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IRS Exempt Organization Newsletter 2015-3

February 18, 2015


On February 17, the IRS released its Exempt Organization Newsletter, Issue Number 2015-3.

  • Register for IRS phone forum: Employment Taxes for Exempt Organizations
  • Review recent EO published guidance
  • IRS launches Directory of Federal Tax Return Preparers; Online tool offers new option to help taxpayers
  • Choose a tax preparer wisely
  • Taxpayer Bill of Rights: #2, The Right to Quality Service
  • Ten great reasons to visit IRS.gov
  • Read more IRS news releases on biggest tax scams for the 2015 filing season
  • Register for EO workshops
  • Don’t Be Confused – 9.56% may still just be 9.5% for you

    February 13, 2015


    In prior posts, we have described how coverage has to be “affordable” to avoid the ACA play or pay penalty. We’ve usually used the shorthand that the premium must be no more than 9.5% of an employee’s household income. However, that 9.5% is subject to periodic adjustments designed to approximate the difference between the growth in insurance premium costs and income. For 2015, that percentage has been adjusted to 9.56%.

    However, there’s a catch here: the percentage applies to actual household income, which is something an employer is very unlikely to know. Recognizing this, the IRS has provided some safe harbors based on information more readily available to an employer. Those are the W-2, rate of pay, and Federal Poverty Line safe harbors.   Without describing all the details, the general rule is that if the premium for an employer’s coverage is less than 9.5% of the employee’s

    IRS Exempt Organization Newsletter 2015-2

    February 6, 2015


    On February 5, the IRS released its Exempt Organization Newsletter, Issue Number 2015-2.

  • Register for IRS Phone Forum: Employment Taxes for Exempt Organizations
  • Renew your PTIN
  • New EO published guidance posted
  • National Taxpayer Advocate focuses on taxpayer service and Taxpayer Bill of Rights
  • Read IRS news releases on biggest tax scams for the 2015 filing season
  • Register for EO workshops
  • Anthem Data Breach Implications for Employers

    February 5, 2015


    As has now been widely reported, Anthem, Inc. was the unfortunate target of a cyber-attack potentially impacting 80 million current and former customers. Some reports have indicated that the HIPAA breach notification rules will not apply to this breach. However, the information stolen appears to include individually identifiable information, potentially including health plan enrollment information. Enrollment information, in the hands of a health plan, is protected health information (PHI), so it is possible that the HIPAA data breach notification rules are applicable. As such, both insured and self-funded customers utilizing Anthem as their TPA should review information concerning the Anthem breach carefully before concluding that the HIPAA breach notification rules do not apply.

    Additionally, given that claims for other Blue Cross Blue Shield customers may have been submitted through Anthem for employees and dependents in an Anthem service area, it is possible that Anthem has information on individuals

    Understanding Basic Financial Statement Information for Nonprofits

    February 3, 2015


    • When: Thursday, March 26, 2015 || 2–5 PM
    • Where: J.C. Penney Conference Center, UMSL North Campus
    • Fee: $25 – Click here to register now!

    Every organization has board or staff members that possess financial credentials and/or experience and are charged with the primary responsibility of reporting or managing the financial matters of the nonprofit. However, board and staff members whose expertise is other than financial still need the ability to monitor the financial condition of the organization and be in a position to ask questions and determine if the organization has the resources to carry out its program goals and strategies. This is an introductory course in how to read financial statements for those who are not finance or accounting professionals.

    Attendees will learn:

    • What to look for when reading financial statements
    • Indicators of financial health, as well as how to detect potential trouble spots
    • What is different