Business & Real Estate Law Newsletter: New Protected Class, Estate Planning & Cottage 1031

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ACA Update: The Look-Back Measurement Method for Large Employers

Determining ACA employer mandate compliance is a two-step process: first, determine if you are a covered “large employer,” then, if you are, determine who you must offer insurance to in order to avoid paying any penalties.  This is because large employers are not required to offer all employees health insurance, only full-time workers.

The formu…

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IRS Publishes Draft Instructions for ACA Employer Mandate Tax Forms

Although compliance delays mean that employers will not be filing such forms until 2016 (for the 2015 tax year), the US Treasury Department and the IRS released draft instructions on August 28th on the reporting requirements for forms 1094-B, Transmittal of Health Coverage Information Returns, and 1095-B, Health Coverage, as well as for forms 109…

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Do Creditors Now Have Carte Blanche Access to Your Inherited IRA To Satisfy Debts?

Many of us are aware that assets held in individual retirement accounts (IRA’s) and similar retirement assets are provided a certain amount of protection from creditors. However, on June 12, 2014 the Supreme Court of the United States issued a unanimous decision in Clarke v Rameker, Trustee, 573 U.S. ___ (2014), that assets in an inherited IRA are …

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“Agents Beware”- IRS Sets New Trap

With its increasing attention on foreign accounts maintained by US taxpayers, the IRS recently published its Reference Guide on the “Report of Foreign Bank and Financial Accounts” (FBAR). For the past several years the IRS has required that 

“a United States person must file an FBAR if that person has a financial interest in or signature authori…

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