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Pre-tax terms: R is for “Rollover”

Benefit Resource Inc.

The FSA rollover option is offered by some employers to employees as a form of protection against losing funds in a Medical FSA. When the FSA rollover option was passed in 2013, the goal was to introduce more flexibility toward the treatment of unused funds at the end of the plan year. The employer decides the amount that can roll.

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Sky Sports pundit Stuart Barnes wins £700,000 tax case

Employee Benefits

Credit: MikeDotta / Shutterstock.com Former Sky Sports presenter and columnist for The Times Stuart Barnes has won a first-tier tax tribunal regarding his IR35 status , carrying £695,000 in tax liability. The post Sky Sports pundit Stuart Barnes wins £700,000 tax case appeared first on Employee Benefits.

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Special analysis: Good records save tax penalties

Business Management Daily

Tax audits are all about your records. Have sloppy, incomplete and inaccurate records and you will needlessly pay tax penalties. The IRS determined that a taxpayer was $17,925 in the hole for his income taxes, and, accordingly, was liable for a $3,585 accuracy-related penalty. Tax Court, 2019). Tax Court, 2019).

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What is the Additional Medicare Tax for high earners?

PeopleKeep

High-wage earners pay more than the standard tax payment for Medicare. If you employ highly compensated employees, you must ensure you withhold the correct amount for Medicare taxes. The Additional Medicare Tax is an extra 0.9% This additional payment has been around since 2013 as part of the Affordable Care Act (ACA).

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Worker Enrollment in HDHPs falls

InterWest Insurance Services

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. ” And 10% of employers with 500 or more workers offered only these plans, compared to 13% in 2018.

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SHRM’s Best Kept Secret: the SHRM Foundation

HR Bartender

Every employer I’ve ever worked for supported my membership in SHRM and allowed me to attend SHRM professional development events. To help educate HR professionals on the trends impacting the workplace, we introduced a major multi-year thought leadership initiative in 2013. They also supported me being a SHRM volunteer leader.

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What is Payroll Tax?

Abel HR

One of the most perplexing topics in the human resources industry is that of the payroll tax. Both employer and employee know about it but unsure of what it is and where it goes. What are Payroll Taxes? When business owners pay their employees’ wages, the law requires them to make tax payments on their behalf.

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