Rev. Proc. 2015-62 Has Not Been Issued

Today's BenefitsLink Health & Welfare Newsletter (Oct. 14, 2015) contains a mistake. The title of the first item in the newsletter is a reference to Rev. Proc. 2015-62, which has not been issued by the IRS.

The correct title would have referred to a 2014 revenue procedure: Rev. Proc. 2014-62.

The 2014 revenue procedure addresses various tax provisions that become effective in 2016 but it was issued in October of 2014, so it was a mistake for us to put a link to the 2014 revenue procedure in today's newsletter.

BenefitsLink apologizes for this trouble!

Thank you very much for reading the BenefitsLink newsletters!

Here is a copy of the item in today's newsletter, but with the correct title.

Text of IRS Rev. Proc. 2014-62: Indexing Adjustments for Calculation of Individual Premium Tax Credit, and Indexed Required Contribution Percentage for Determining Eligibility for Affordable Employer-Sponsored Minimum Essential Coverage (PDF)

Excerpt: "This revenue procedure... updates the Applicable Percentage Table in Section 36B(b)(3)(A)(i) to provide the Applicable Percentage Table for 2016. This table is used to calculate an individual's premium tax credit. This revenue procedure also updates the required contribution percentage in Section 36B(c)(2)(C)(i)(II) for plan years beginning after calendar year 2015. This percentage is used to determine whether an individual is eligible for affordable employer -- sponsored minimum essential coverage under Section 36B.... plan years beginning in 2016, the required contribution percentage for purposes of Section 36B(c)(2)(C)(i)(II) and Section 1.36B-2T(c)(3)(v)(C) is 9.66%."