Problems viewing this email? Click Here

600px_TF_IntelligenceTopper_new
July 1, 2015  

 
 NEWEST DEVELOPMENTS
Disability
Disability Benefits Paid to a Plan Participant's Former Spouse Taxable Income
The IRS recently found that disability retirement benefits paid to a state employee's former spouse pursuant to a domestic relations order were fully taxable because the code and regulations provide that only disability benefits paid to employees and their survivors may be excluded from income. State regulations had recently been amended to provide that payments made to an alternate payee pursuant to a domestic relations order were taxable to that alternate payee to the same extent as they would be taxable to the participant-employee. The IRS found that the benefits were paid as a result of the participant employee's work-related disability or sickness, rather than the work-related disability or sickness of a former spouse.  Read More
 
Health Care
IRS Q&A Helps Employers Reporting Offers of Health Coverage
The IRS recently created a Q&A page designed to assist employers in reporting offers of health coverage to the IRS, and in providing required notification to full-time employees. Under the Affordable Care Act, applicable large employers (generally those with 50 or more full-time employees) are required to report offers of health coverage to the IRS beginning in 2016 for coverage offered in 2015.  Read More
 
Health Care
Health Expenses Set to Increase for High Income Medicare Beneficiaries
The Medicare Access and CHIP Reauthorization Act of 2015 (informally known as the "doc fix law") includes a provision that will modify the scale for determining the various levels of income-based surcharges that higher income Medicare recipients must pay. Medicare income-based surcharges are determined based on a sliding scale that uses the recipient's adjusted gross income to determine his or her liability for Medicare premium costs. Five tiers of income levels currently exist, and the amount of an individual's income-based surcharge is determined based upon the tier in which his or her income fell two years prior to the year in which the premium applies.  Read More
 
 FEATURED ARTICLE
New Retirement Spending Account a Viable Retirement Savings Vehicle
A new product has emerged on the marketplace for clients looking for alternative solutions to the retirement income puzzle—a retirement spending account. The product combines aspects of both a traditional retirement savings vehicle and an annuity, seeking to solve the ever-present problem of how to ensure that a client will not outlive his or her retirement savings.  Read More
 
   
 About Tax Facts:
Tax Facts Online is the premier practical, useful, actionable, and affordable reference on the taxation of insurance, employee benefits and investments. This advisory service provides expert guidance on hundreds of the most frequently asked client questions concerning their most important tax issues.

Tax Facts Intelligence Weekly is included as part of your subscription to Tax Facts Online.

Tax Facts, Tax Facts Online, and Tax Facts Intelligence Weekly are publications of The National Underwriter Company. For more information, visit TaxFactsOnline.com.

To subscribe to Tax Facts Online, please contact customer service at 1-800-543-0874 or customerservice@nuco.com.
 
 About The National
 Underwriter Company:
For over 110 years, The National Underwriter Company has been the first in line with the targeted tax, insurance, and financial planning information you need to make critical business decisions. With respected resources available in print and online, National Underwriter remains at the forefront of the evolving insurance industry, delivering the thorough and easy-to-use resources you rely on for success.
 
 Maximize Your
 Subscription:
Tax Facts Online editors regularly conduct web-based demos of the service. Feel free to contact Christine Barlow, cbarlow@ alm.com, to set one up! They only take 15 minutes, a small investment of time that will help you learn all that Tax Facts Online has to offer.
 
 
Tax Facts Team and Advisory Board
 
Kelly Maheu, J.D.
Publisher
  Jason Gilbert, J.D.
Tax Editor
  Marcia Mermelstein
Marketing Manager
Richard Cline, J.D.
Managing Editor
  Gerry Centrowitz
Marketing Director
  Connie L. Jump
Online Services Supervisor
Authors:
  Professor William M. Byrnes, J.D. – Texas A&M Law School
Robert S. Bloink, J.D. – Tax Professor, Thomas Jefferson School of Law
Alexis Long, J.D. – Publications Director, Thomas Jefferson School of Law
 
Tax Facts Intelligence Weekly ($199 annual subscription) is included as part of your subscription to Tax Facts Online. Tax Facts Intelligence Weekly is a National Underwriter Company publication. For more information, visit www.TaxFactsOnline.com. Should you have any questions, please contact Customer Service at 1-800-543-0874 or customerservice@nuco.com.
To ensure future delivery of email, please add admin@list.nationalunderwriter.com
to your address book, contacts or safe sender list.

You have received this email at %%merge members_.emailaddr_%%.
Click here to unsubscribe from %%merge list.descshort%%.
Copyright ©2015 Summit Professional Networks, A Division of ALM Media LLC.
All rights reserved.
 
120px_ALM_NT_CMYK_Small
4157 Olympic Blvd., Suite 225
Erlanger, KY 41018
1-800-543-0874