Every year, the IRS releases its Priority Guidance Plan, also known as the business plan. It’s no surprise that the IRS is devoting a considerable amount of time to issuing guidance related to’s continuing role in health care reform. The business plan is always subject to change, especially if the IRS must accommodate last-minute legislative initiatives.
What’s up? The health care guidance to come includes regulations on the additional Medicare tax on high earners, which begins in 2013; regs on the employer affordability safe harbor; guidance on health insurance premium rebates; and guidance on information reporting of employees’ health benefits by large employers (not the same as W-2 reporting).
In addition to those projects, here’s what Payroll has to look forward to:
- Guidance on maintaining or obtaining new Employer Identification Numbers when businesses gain or lose corporate status
- Guidance on whether state unemployment agencies may accept Form 8850, Pre-Screening and Certification Request for the Work Opportunity Tax Credit, with the job applicant and employer’s faxed signatures
- Final cafeteria plan regs
- Guidance on the use of smart cards, debit cards and credit cards in providing qualified transportation
- Final regs on income inclusion for nonqualified deferred compensation plans.