Well, at least part of it. She joins numerous others on both sides of the political aisle who have called for the repeal of the “Cadillac tax” included in Obamacare. As most people are aware, Obamacare requires most employers to provide “minimum essential coverage” for their employees. What many do not know is that Obamacare also provides for a fine for employers who provide too much health insurance for their employees. This is referred to as the Cadillac tax. Although projected revenue from the Cadillac tax was included when projecting the cost of Obamacare, this provision was so unpopular that it doesn’t take effect until 2018. Pro-business advocates on both sides of the aisle have criticized it. Many labor unions and other large employers with good benefits packages for their employees will be hit with this tax if it is not repealed by 2018.
Persons living In a federally declared disaster area qualify for certain tax relief. Here’s an announcement about the recent fires in northern California.
The IRS has released Notice 2015-63 which outlines the per diem rates used for travel starting October 1, 2015
IRS recently issued Announcement 2015-23 which applies to almost none of us. It states that the IRS will no longer accept personal checks of 100 million or more starting in 2016. If you owe the IRS that much money then click here for the details.
On the other hand, if you receive legitimate correspondence from the IRS you should never ignore it. Ignoring IRS notices can turn a small problem into a much larger and more complicated problem with more serious consequences. For any questions regarding an IRS issue, we can help. As Enrolled Agents, we specialize in dealing with the IRS and can explain your rights and your best options in resolving your tax issues.