2022 Reporting Instructions for HSAs and MSAs
The IRS has posted 2022 Instructions for Forms 1099-SA and 5498-SA.
IRS Guidance on Information Reporting of Health Insurance Coverage
The Department of the Treasury has released a NPR entitled, “Information Reporting of Health Insurance Coverage and Other Issues Under Internal Revenue Code Sections (IRC Secs.) 5000A, 6055, and 6056”.
IRS Posts 2021 Form 5329
The IRS has posted the 2021 tax year Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.
IRS Posts 2022 Form 5498-SA for HSA, MSA Reporting
The IRS has posted at its website the 2022 tax year version of Form 5498-SA.
2022 Amounts Released for Health and Welfare Benefits
The IRS has issued Revenue Procedure (Rev. Proc.) 2021-45, which contains cost-of-living adjustments for taxable years beginning in 2022 for over 60 tax provisions.
IRS Releases Forms 1094-C, 1095-C
IRS Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, is used annually by an applicable large employer (ALE) to report health coverage offered to employees.
IRS Provides COBRA Coverage Clarifications
The IRS has issued Notice 2021-58, which clarifies the application of extension under the “Joint Notification of Extensions of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak”.
Guidance on Premium Assistance for COBRA Benefits
The IRS has issued Notice 2021-46, which provides additional guidance affecting the application of the American Rescue Plan Act of 2021 on COBRA continuation coverage.
Several Health Savings Bills Proposed
Senator Ben Sasse (R-NE) recently introduced two bills aimed at providing more flexibility for the use of health savings accounts (HSAs).
Supreme Court Leaves Affordable Care Act In Place
On June 17, 2021, the United States Supreme Court held that the plaintiffs did not have standing to pursue an action under the Patient Protection and Affordable Care Act (PPACA).
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