N-2014-49, N-2014-55 & N-2014-56
Internal Revenue Service (IRS) sent this bulletin at 09/18/2014 04:23 PM EDT
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Issue Number: N-2014-49, N-2014-55 & N-2014-56Inside This IssueNotice 2014-49 describes a proposed approach to the application of the look-back measurement method, which may be used to determine if an employee is a full-time employee for purposes of § 4980H of the Internal Revenue Code, in situations in which the measurement period applicable to an employee changes. This notice is intended to address the topics for which guidance was anticipated in section VII.G of the preamble to the final § 4980H regulations (79 FR 8544, 8563 (Feb. 12, 2014)). Notice 2014-49 will appear in IRB 2014-40, dated Sept. 29, 2014. Notice 2014-55 expands the permitted election rules for health coverage under a § 125 cafeteria plan and addresses two specific situations in which a § 125 cafeteria plan participant is permitted to revoke his or her election under the § 125 cafeteria plan during a period of coverage. The first situation involves a participating employee whose hours of service are reduced so that the employee is expected to average less than 30 hours of service per week but for whom the reduction does not affect the eligibility for coverage under the employer’s group health plan. The second situation involves an employee participating in an employer’s group health plan who would like to cease coverage under the group health plan and purchase coverage through a competitive marketplace established under § 1311 of the Patient Protection and Affordable Care Act, commonly referred to as an Exchange or Marketplace. Notice 2014-56 provides the applicable dollar amount that applies for determining the PCORI fee for policy years and plan years ending on or after October 1, 2014 and before September 30, 2015. Notices 2014-55 & 2014-56 will appear in IRB 2014-41, published Oct. 6, 2014. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |