Contact us for questions regarding your specific tax situation
 (305)310-5517  Toll Free: (877)365-7263

Issue Number:    IR-2014-119 Inside This Issue
Tax Season Opens As Planned Following Extenders Legislation
IR-2014-119, Dec. 29, 2014

For Original post , visit www.irs.gov

WASHINGTON -- Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January.

The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time.

The decision follows Congress renewing a number of "extender" provisions of the tax law that expired at the end of 2013. These provisions were renewed by Congress through the end of 2014. The final legislation was signed into law Dec 19, 2014.

"We have reviewed the late tax law changes and determined there was nothing preventing us from continuing our updating and testing of our systems," said IRS Commissioner John Koskinen. "Our employees will continue an aggressive schedule of testing and preparation of our systems during the next month to complete the final stages needed for the 2015 tax season."

The IRS reminds taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund. There is no advantage to people filing tax returns on paper in early January instead of waiting for e-file to begin.

More information about IRS Free File and other information about the 2015 filing season will be available in January.

Contact us for questions regarding your specific tax situation
 (305)310-5517  Toll Free: (877)365-7263

New IRS Publication helps you understand the Health Care Law

There is a new publication that will help you learn about how the Affordable Care Act affects your taxes.  IRS Publication 5187, Health Care Law: What’s New for Individuals and Families is now available on IRS.gov/aca. While the health care law has several parts, this publication breaks down what’s new for the 2014 federal tax return you will be filing in 2015.

This new publication provides important information for taxpayers who:

• Had health insurance coverage for the entire year
• Did not have health coverage for each month of the year
• Purchased health insurance from the Marketplace
• Might be eligible for an exemption from  the coverage requirement
• Had advance payments of the premium tax credit sent to their insurance provider
• Is claiming the premium tax credit on their tax return

The publication includes a glossary that will help you understand new terms related to ACA. It also addresses the new lines for reporting ACA information on Forms 1040, 1040-A and 1040-EZ.

Most people have qualifying health coverage, and all they will need to do is simply check a box on their tax return.

You can access Publication 5187 at IRS.gov/aca, along with other important information related to the health care law. You can also find it by typing “p5187” into the search window at the top of any IRS.gov page or “5187” in the Forms and Pubs search window on IRS.gov.

Contact us for questions regarding your specific tax situation
 (305)310-5517  Toll Free: (877)365-7263

Visit the United States Department of Labor link below for original literature.
http://www.dol.gov/ebsa/healthreform/

Regulations and Guidance

• Affordable Care Act Implementation FAQs
• Affordable Care Act Nondiscrimination Provisions Applicable to Insured Group Health Plans
• Applicability to HRAs, Health FSAs, and Certain other Employer Healthcare Arrangements
• Automatic Enrollment
• Coverage of Preventive Services
• Early Retiree Reinsurance Program
• Employer Shared Responsibility
• Essential Health Benefits
• Excepted Benefits
• Extension of Coverage For Adult Children
• Grandfathered Health Plans
• Internal Claims and Appeals and External Review
• Mental Health Parity

• Medical Loss Ratio
• Multiple Employer Welfare Arrangements
• Ninety-Day Waiting Period Limitation
• Notice to Employees of Coverage Options
• Pre-Existing Condition Insurance Plan Program
• Preexisting Condition Exclusions, Lifetime and Annual Limits, Rescissions, and Patient Protections
• Provider Non-Discrimination
• Public Forum on Automatic Enrollment in Large Employer Health Plans
• Small Business Health Care Tax Credit for Small Employers
• Stop Loss Insurance
• Summary of Benefits and Coverage and Uniform Glossary
• Transitional Reinsurance Program - Reinsurance Contributions
• Value-Based Insurance Design in Connection with Preventive Care Benefits
• Wellness Programs

Visit the United States Department of Labor link below for original literature. 
www.dol.gov/ebsa/healthreform/consumer.html

The Patient Protection and Affordable Care Act (Affordable Care Act) adds many protections related to employment-based group health plans for you and your family.  These include extending dependent coverage up to age 26; prohibiting preexisting condition exclusions for children under age 19 and for all individuals beginning in 2014; and requiring easy-to-understand summaries of a health plan’s benefits and coverage.

Additional protections that may apply to your plan include the requirement to provide coverage for certain preventive services (such as blood pressure, diabetes and cholesterol tests, regular well-baby and well-child visits, routine vaccinations and many cancer screenings) without cost-sharing, and coverage of emergency services in an emergency department of a hospital outside your plan’s network without prior approval from your health plan.

The Affordable Care Act also provides coverage options that allow you to maintain health coverage for you and your family. This page provides information on the Affordable Care Act to help you consider your options and make informed decisions, along with contact information if you have further questions.

Employers must provide notice to employees of coverage options.  No later than October 1, 2013, employers will be providing these notices to current employees and to new hires within 14 days. If your employer offers a health plan to some or all employees, you will receive this notice. If your employer does not offer a health plan, you will receive this notice.

Option 1: Your employer planThe Affordable Care Act adds numerous protections related to employment-based group health plans.  These include:

• Extension of Dependent Coverage to Age 26
• Pre-existing Condition Exclusion Prohibition
• Summary of benefits and coverage (SBC)
• Coverage of Preventive Services
• Essential Health Benefits
• Internal Claims and Appeals and External Review
• Medical Loss Ratio
• Wellness Programs
• Grandfathered Health Plans

The Affordable Care Act prohibits employers from retaliating against employees who report violations of the Act's health insurance reforms, found in Title I of the Affordable Care Act. For more information, visit www.whistleblowers.gov. For a full list of Affordable Care Act provisions, visit www.dol.gov/ebsa/healthreform/. There also are protections under other federal benefit laws related to your employment-based health plan:

• The Health Insurance Portability and Accountability Act of 1996 (HIPAA)
• The Consolidated Omnibus Budget Reconciliation Act (COBRA)
• HHS Bulletin Allowing COBRA Qualified Beneficiaries to Enroll in the Health Insurance Marketplace
• HHS Fact Sheet on Losing Job-Based Coverage
• The Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA)
• Women's Health And Cancer Rights Act (WHCRA)
• Newborns' And Mothers' Health Protection Act
• Genetic Information Nondiscrimination Act (GINA) 

ResourcesPublications

• Your Health Plan and You - Know Your Health Coverage Protections
• Retirement and Health Care Coverage...Questions and Answers for Dislocated Workers | en español
• Protecting Retirement and Health Care Benefits After Job Loss | en español | 中文 | 한국어 | tiếng Việt | po Polsku
• An Employee's Guide to Health Benefits Under COBRA | en español
• Your Rights After a Mastectomy | en español

Webcasts

• Mujeres: aprovechen al máximo su cobertura médica archivo

Videos

• Health Care Coverage - Pay a Little to Save a Lot
• Know Your Health Benefit Rights
• Conozca Sus Derechos de Beneficios de Salud

Option 2 – The Health Insurance MarketplaceUnder the Affordable Care Act, in addition to health coverage through an employment-based group health plan, there will be a new way to get health coverage – the new health insurance marketplace (the Marketplace).  The Marketplace will offer health insurance (called qualified health plans) that include comprehensive coverage, from doctors and medications to hospital visits.  Qualified health plans in the Marketplace will present their price and benefit information in simple terms so that you can make apples-to-apples comparisons. Starting in October 2013, you will be able to get information about all of the plans available in your area and enroll. 

For more information about obtaining coverage through the Marketplace, visit www.healthcare.gov, contact EBSA electronically atwww.askebsa.dol.gov, or call the HealthCare.gov Help Line at 1-800-318-2596.

Contact us for questions regarding your specific tax situation
 (305)310-5517  Toll Free: (877)365-7263