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Late last year, the IRS announced limited relief for required information reporting under the Affordable Care Act (ACA). The agency extended the deadline for furnishing Forms 1095-B and 1095-C to individuals for the 2016 tax year.

As of this writing, the future of the Affordable Care Act (ACA) is unclear. Employers should continue to comply as usual in the short term. But, in the longer term, you may have more options regarding how to run your health care plan.

General contractors and subcontractors share a contractual relationship. But, as colleagues and partners engaged on projects in common, they also must relate to one another as people.

A retirement savings plan must maintain adequate documentation to support plan transactions.  If a 401(k) allows for hardship withdrawals or a distribution from a 401(k) plan “made on account of an immediate and heavy financial need of the employee, and the amount must be necessary to satisfy the financial need,” the employee requesting the distribution should provide paperwork proving the amount of the hardship.

Fiduciaries of defined contribution plans have an obligation under ERISA to locate missing participants and properly distribute the participants’ account balance.  The plan’s participants should be contacted for direction on how to distribute their account balance regardless of their length of service or the size of their account.

Several government agencies provide oversight of Employee Benefit Plans.  These agencies include the Internal Revenue Service (IRS), the Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC).

Government agencies provide oversight of Employee Benefit Plans.  These agencies include the Internal Revenue Service (IRS) and the Department of Labor (DOL).  Protecting participant rights is the main focus of each agency.

The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2016 tax liability — you just must act by December 31. Here are six actions to consider taking:

The IRS has again extended the deadline for employers subject to the Affordable Care Act’s (ACA’s) information reporting requirements to meet their obligations to employees. Last year, the IRS extended the 2016 deadlines for reporting 2015 information, giving employers an additional two months to provide employees Form 1095-B, “Health Coverage,” and Form 1095-C, “Employer-Provided Health Insurance Offer and Coverage.”

If you haven’t yet created a business plan for 2017, it’s not too late to catch the proverbial worm. The start of a new year is a great time to meet with your management team and analyze how your company performed in 2016 relative to the goals and objectives set forth in your 2016 plan.