SKR+Co Alert: Final "play or pay" regs, protecting your tax information, & more!

Final ACA “play or pay” regulations defer penalty risk for midsize employers, offer other 2015 relief

The IRS has released its long-awaited final regulations implementing the Affordable Care Act’s (ACA’s) employer shared-responsibility — also known as “play or pay” — provision that applies to “large” employers, including for-profit, nonprofit and government entities. These regulations are effective January 1, 2015.

The final regs push out one year, from 2015 to 2016, the risk of play-or-pay penalties for eligible midsize employers that otherwise would be considered large employers under the ACA. They also provide other significant relief for 2015 and clarify certain aspects of the play-or-pay provision. 

Read the full article here.

Protect yourself and your information as you prepare to file your tax return this year

Tax time is becoming a more and more lucrative time for those wanting to steal your identity or scam you out of money. The more vigilant and careful you are, the less likely you will fall victim to their schemes. We want to remind you to always use a secure method to deliver your financial information to us and any other service provider. Instead of sending a regular email and attaching your files, please use our Secure Email. If you send files back and forth with us frequently, we can set up a Client Portal for you to use, requiring a secure login. And, of course, you can always bring in your information personally.

The IRS warns that tax scams using email and phone calls that appear to come from them — using the IRS name and logo or fake websites that look real — are common. Scammers often send an email or call to lure victims to give up their personal and financial information. The crooks then use this information to commit identity theft or steal your money. Some call their victims to demand payment on a pre-paid debit card or by wire transfer. But the IRS will not initiate contact with you to ask for this information by phone call, text, email, or social media.

If you receive this type of email: don't open any attachments or click any links and don't reply to the message or give out any personal or financial information. Forward the email to phishing@irs.gov and then delete it.

If you receive an unexpected phone call from someone claiming to be from the IRS: Ask for a call back number and an employee badge number, then call the Treasury Inspector General for Tax Administration at 800-366-4484 to report the incident. You should also report it to the Federal Trade Commission by using their “FTC Complaint Assistant” on FTC.gov, adding "IRS Telephone Scam" to the comments of your complaint.