The IRS has released Form 8941, Credit for Small Employer Health Insurance Premiums, and related instructions, for tax year 2016. Eligible small employers use this form to figure the credit for health insurance premiums under the Small Business Health Care Tax Credit.
The Small Business Health Care Tax Credit is designed to encourage small businesses and tax-exempt employers to offer health insurance coverage to their employees. Among other requirements, an employer may be eligible for the credit for tax year 2016 if:
Employers subject to the Americans with Disabilities Act (ADA)—generally those with 15 or more employees—that offer a wellness program that collects employee health information are reminded that they must provide a new notice to employees as of the first day of the plan year that begins on or after January 1, 2017
U.S. Citizenship and Immigration Services (USCIS) has released a new version of Form I-9, Employment Eligibility Verification.
Federal law requires employers to hire only individuals who may legally work in the United States--either U.S. citizens or foreign citizens who have the necessary authorization. To comply with the law, employers must verify the identity and employment authorization of each person they hire by completing and retaining Form I-9.
New Form I-9 Dates
The new Form I-9 is dated November 14, 2016 and has an expiration date of August 31, 2019. Employers may continue using a Form I-9 with a revision date of March 8, 2013 (or may use the new version) through January 21, 2017. Beginning January 22, 2017, however, employers must use only the new version.
Employers should also continue to follow existing storage and retention rules for all of their previously completed Forms I-9.
Note: The instructions for completing Form I-9 are now separate from the form.
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Source: HR 360, Inc.
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