Loan & Distribution Specialist AimPoint Pension
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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AimPoint Pension
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2 Matching News Items |
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2010 Information Reporting Program Advisory Committee Public Report (PDF)
Internal Revenue Service [IRS] Oct. 25, 2010
104 pages. Excerpt: The purpose of IRPAC is to provide recommendations to the IRS for the continued improvement of the tax information reporting program. IRPAC provides a public forum for the IRS to meet on a regular basis with tax professionals engaged in both the production and use of tax information returns to discuss issues and to work in partnership to develop solutions.
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2014 IRPAC Public Report: Trouble Ahead in Determining 2014 Minimum Essential Coverage
Information Return Reporting and Advisory Committee [IRPAC], Internal Revenue Service [IRS] Oct. 29, 2014
"Tax professionals will be confused about what type of documentation to accept in preparation of individual income tax returns for 2014 regarding [minimum essential coverage (MEC)]. The chart on the IRS webpage about the individual shared responsibility provision lists 28 examples of differing types of health insurance coverage. IRPAC commends IRS for the detailed listing of coverages and the work that was involved in the listing. The difficulty will be for taxpayers to match the type of coverage from the list to the coverage they have. This is especially true for the examples of coverages with references to special federal laws. Combining the complexity of tax rules together with the complexity of understanding health insurance creates a near perfect storm for taxpayers and tax professionals."
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