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IRS Statement: Letters Will Share Information About Obtaining …

WEBStarting Oct. 4, the IRS will start sharing information about obtaining Marketplace healthcare coverage on behalf of the Center for Medicare & Medicaid Service (CMS), the IRS …

Actived: 1 days ago

URL: https://news.bloombergtax.com/daily-tax-report/irs-statement-letters-will-share-information-about-obtaining-health-coverage-through-marketplace-irc-36b

IRS Clarifies Rule on Health-Care Expenses, Retention Credit

WEBThe treatment of health-care expenses as qualified wages by employers for purposes of the employee retention credit was clarified May 8 by the Internal Revenue …

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Treasury Issues Final Rules for Market of Sellable Green Credits

WEBThe Treasury Department and the IRS released final rules Thursday for taxpayers looking to buy or sell clean energy tax credits in President Joe Biden’s tax-and …

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2023 Contribution Limits to Rise for Health Savings Accounts

WEBThe 2023 annual tax-free contribution limits for health savings accounts are to rise by $200 for self-only coverage and $450 for family coverage, the Internal …

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California Wins Federal OK for $19.4 Billion Managed Care Tax

WEBCalifornia has federal approval to reinstate a tax on managed health care organizations that will generate $19.4 billion over three years to increase funding for …

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Nonprofit Hospitals Need Novel Policy Solutions for Tax Reform

WEBNonprofit hospitals constitute approximately 58% of all community hospitals and enjoy extensive tax breaks that often form a substantial part of their net income. Yet …

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California FTB Issues Instructions for Form FTB 3853, Health …

WEBThe California Franchise Tax Board April 1 issued the 2020 instructions for Form FTB 3853, Health Coverage Exemptions and Individual Shared Responsibility …

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Missouri DOR Releases Form 5695, Qualified Health Insurance …

WEBThe Missouri Department of Revenue Dec. 24 released Form 5695, Qualified Health Insurance Premiums Worksheet, for individual income tax purposes. …

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California Health Plan Tax Boosts Federal Funds to $20.9 Billion

WEBCalifornia would increase a tax on managed health-care providers to boost federal matching funds by $1.5 billion over four years under a bill the state Senate …

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‘Non-Charitable’ Nonprofit Hospital Ordered to Start Paying …

WEBStill, the decision to tax nonprofit hospitals based on behavior more consistent with for-profit providers may not yield much, if any benefit to the taxing authorities: Even …

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China to Expand Tax Favors to More Health Insurance Products

WEBChina will expand the scope of commercial health insurance products applicable to individual income tax preferential policies to insurance products for …

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How US Employers Provide Health Plans to Puerto Rico Employees

WEBProbably because of their prior experiences and challenges with the operation of retirement plans in Puerto Rico, plus the lack of written guidance on the subject, …

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New York Lawmakers Eye Managed Care Tax to Raise $4 Billion

WEBThe New York Legislature is considering a tax on managed care organizations to generate $4 billion in new revenue, but regulatory challenges could …

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Valero Tussles With IRS Over Alternative Fuel Credit for Butane

WEBValero Marketing & Supply Co. filed a lawsuit seeking a $74.92 million refund of federal excise tax, which the company says it overpaid in large part because the IRS …

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Tax Court Slashes $47.6 Million Deduction Claim, Backs Penalty

WEBThe partnership behind a 1,500-acre conservation easement donation owes the IRS an accuracy-related penalty for claiming a tax deduction of nearly 10 times more …

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Chemours CFO Resigns in Latest Fallout from Accounting Probe

WEBChemours Co.'s chief financial officer has resigned two months after the chemical maker announced an internal investigation into its accounting practices that put …

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Ex-Moody’s Counsel Admits to Not Filing Taxes on $54 Million (1)

WEBThe former general counsel for Moody’s Corp. pleaded guilty to willfully failing to file federal income tax returns over four years, during which he earned more …

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Chemours: Jonathan S. Lock Resigns From All Positions

WEBConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, …

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Roger Stone Seeks Stay in Tax Case Due to Wife’s Cancer

WEBEditor. Roger Stone and his wife Nydia Stone—recently diagnosed with cancer—are seeking a 90-day stay in the government’s nearly $2 million tax case …

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Missouri Governor Signs Law Expanding Individual Income Tax …

WEBThe Missouri Governor July 7 signed a law expanding tax deductions from long-term health insurance premiums for individual income tax purposes. The law …

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Tomato Suppliers Urge Court to Allow Deductions for Repair Costs

WEBSuppliers for 40% of the US’s ingredient tomato paste and diced tomato markets urged the Ninth Circuit to revive their claims to deduct the costs of …

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House Republicans’ ‘Tax Teams’ Form Ahead of 2025 Sunsets (1)

WEBHouse Ways and Means Republicans released their “tax team” lineups Wednesday as part of a ramp-up to negotiations over the 2025 tax cliff.

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Michigan Justices Will Review Class Action Over ‘Unlawful Tax’

WEBThe Michigan Supreme Court will hear mini arguments to decide whether to grant a proposed class’s petition challenging East Lansing’s utility fee as an unlawful tax.

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