Tacoma, WA (253) 272-2711

Anchorage, AK (907) 277-1616

info@wilsonalbers.com

Congress Repeals Unrelated Business Income Tax for Tax-Exempt Entities Offering Qualified Transportation Fringe Benefits

As part of the Further Consolidated Appropriations Act, 2020 (the “Act”), Congress repealed Section 512(a)(7) of the Internal Revenue Code of 1986 (the “Code”). This Code section was added as part of the Tax Cuts and Jobs Act of 2017 (the “TCJA”) and resulted in an unrelated business income tax (UBIT) liability when a tax-exempt …

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The Wilson Agency and Albers & Company Become Wilson Albers, an Alera Group Company

Anchorage, AK and Tacoma, WA (1/6/20) – The Wilson Agency and Albers & Company are changing their name and brand as part of the ongoing evolution of the company. The firm will now be known as Wilson Albers, an Alera Group Company. Alera Group acquired the two firms along with ConnectHR in early 2018. The …

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Congress Passes Spending Bill that Repeals Three Major ACA Taxes, Extends PCORI

Updated December 21 to reflect that the bill has been signed into law. On December 20, 2019, the House and Senate, with the final signature from President Trump, passed a bipartisan legislative package of spending bills to avoid a government shutdown.  This package of bills is collectively referred to as the Further Consolidated Appropriations Act, …

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IRS Extends Deadline for Furnishing Form 1095-C, Extends Good-Faith Transition Relief

The Internal Revenue Service (IRS) has released Notice 2019-63, which extends the deadline for furnishing 2019 Forms 1095-B and 1095-C to individuals from January 31, 2020 to March 2, 2020.  The Notice also provides penalty relief for good-faith reporting errors and suspends the requirement to issue Form 1095-B to individuals, under certain conditions.  The due …

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What Employers Need to Know About the New Transparency Rules

Proposed Transparency Rule Released Following President Trump’s Executive Order on Improving Price and Transparency in American Healthcare, one final and one proposed rule was released by HHS and CMS that aim to increase price transparency for hospitals and insurance companies.  These rules would have an impact on employers who sponsor group health plans.  It is …

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IRS Releases Draft 2019 ACA Reporting Forms and Instructions

The IRS has released draft forms and instructions for the 2019 B-Series and C-Series reporting forms (Forms 1094-B, 1095-B, 1094-C and 1095-C) used by employers and coverage providers to report certain information to full-time employees and the Internal Revenue Service (IRS).  As background, the Affordable Care Act (ACA) added Sections 6055 and 6056 to the …

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Alera Group Acquires Capital Region Benefits

Alera Group, a national employee benefits, property and casualty, retirement services and wealth management firm, today announced that it has acquired Capital Region Benefits, effective November 1, 2019. Capital Region Benefits, an independent insurance agency located in Camp Hill, Pennsylvania, has provided group benefit insurance services to Central Pennsylvania employers since 2004.  Capital Region Benefits …

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Health FSA Contribution Limit Increases to $2,750 for 2020 Plan Years

IRS Increases Health FSA Contribution Limit for 2020, Adjusts Other Benefit Limits On November 6, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-44, which raises the health Flexible Spending Account (FSA) salary reduction contribution limit by $50 to $2,750 for plan years beginning in 2020. The Revenue Procedure also contains the cost-of-living adjustments …

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Alera Group Acquires HR inTune

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, today announced that it has acquired the business assets of HR inTune, effective October 1, 2019. HR inTune, located in Berwyn, Pennsylvania, is a human resource consulting firm that helps to address complex workforce management needs through different configurations of …

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Massachusetts Employers Must File HIRD Form by December 15

As part of Massachusetts’ expanded Employer Medical Assistance Contribution (EMAC) program, employers with 6 or more employees in Massachusetts must submit a health insurance responsibility disclosure (HIRD) form annually, which collects information about employer-sponsored health insurance offerings.  Employers throughout the Commonwealth should have received email communication from the Department of Revenue (DOR) indicating that the …

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