COVID-19 has led to changes in many employees’ circumstances, from changes in a spouse’s employment and benefits eligibility to significant changes in medical or dependent care expenses. These changes in circumstances mean that many employees may need additional flexibility in their Section 125 Cafeteria Plans. Various employers have indicated a willingness to offer employees such flexibility and the IRS has responded favorably by recently issuing Notice 2020-29.Read More
Tax Warrior Chronicles
On occasion, we marvel at things our clients do that impact our lives. And, from time to time, with their permission, we’d like to share these incredible stories of innovation, perseverance, and hope. Dr. Tom Devlin* is such an individual. He was recently featured in The Economist for developing a groundbreaking innovation on a cell phone that has saved many lives…and could save yours. We are proud of what Dr. Devlin has achieved, and invite you to view and share this video describing his innovation.Read More
Since 2010, the Affordable Care Act (AKA ObamaCare) has been a front-page news story. Its twists and turns through Congress, the Supreme Court and the Tax Code have been extraordinary. But, now a new question has emerged. Is there an unintentional loophole that may render some employers in more than 2/3 of the United States exempt from the employer mandate? And, will this leave a large number of people without affordable healthcare options? In this short blog, The Tax Warriors® look beyond the tax implications and use our insatiable curiosity to help our clients learn more about the issue.