The IRS has put the kibosh on any potential attempts by large employers to skirt the requirements of the Affordable Care Act (ACA) by paying employees before-tax subsidies to buy individual health insurance through private (commercial) carriers or through a Health insurance Exchange Marketplace. According to a recently published IRS  Q&A, such employer payment plans…

The Internal Revenue Service is offering educational Health Care Tax Tips to help individuals understand how the Affordable Care Act may affect their taxes. The IRS has designed the Health Care Tax Tips to help people understand what they need to know for the federal individual income tax returns they are filing this year, as…

Background The Internal Revenue Code says that if you receive a distribution from an IRA, you can’t make a tax-free (60-day) rollover into another IRA if you’ve already completed a tax-free rollover within the previous 12 months. The long-standing position of the IRS, reflected in Publication 590 and proposed regulations, is that this rule applies…

Today is Valentine’s Day and love is in the air – let’s hope the warmth of that love will help to thaw out the frigid weather that has been clinging to so much of the country this winter!  However, should the cold prevail, you might find yourself holed-up at home this long holiday weekend –…

Here on the east coast the elevated temperatures have many of us thinking about getting away to the beach, or the mountains, or anywhere to escape the heat and enjoy time away from the office.  Before leaving home for your summer escape, remember to secure your valuables and important records.  The IRS provides these helpful…

© 2015 Lumina Financial Consultants | Your Financial Future ... Illuminated.

luminafilogo

STAY CONNECTED WITH US: