News from Washington IRS Announces Tax Relief for Taxpayers Impacted by Severe Storms in Kentucky; Deadlines Postponed to November 3The IRS announced tax relief for individuals and businesses in the entire state of Kentucky affected by severe storms, straight-line winds, flooding, and landslides that began on February 14, 2025. These taxpayers now have until November […]
News from Washington Trump Administration to Defend ACA Preventive Services MandateThe Trump administration told the Supreme Court that it intends to defend the Affordable Care Act’s requirement that insurers cover certain recommended preventive services at no cost to patients. The Justice Department wrote in a brief that it will maintain the Biden administration’s arguments in […]
News from Washington DOL Files to Pause Appeal of Fiduciary RuleDepartment of Labor filed a motion in the U.S. 5th Circuit Court of Appeals to hold its appeals in two court cases about the DOL’s fiduciary rule, saying the new administration and agency officials need time to onboard and familiarize themselves with the cases. DOL […]
News from Washington Bill Would Expand Treatment Options Under HSA-Qualified High Deductible Health PlansHouse lawmakers have introduced a bill to expand chronic disease treatment options covered by high deductible health plans, such as for individuals with high blood pressure or asthma. The bill would allow employers who offer HSA-qualified coverage the option of including pre-deductible […]
News from Washington Understanding the Trump Impact: 5 Areas to Watch in Wake of the 2024 U.S. Election ResultsExecutives should remain aware of changes that affect investment, employee benefits, retirement and compensation. Here are five areas to watch to better understand how the 2024 election results might impact capital markets, retirement, health insurance and compensation […]
News from Washington HSA Modernization Act of 2025 Would Expand Eligibility and OpportunitiesRep. Beth Van Duyne (R-TX) recently introduced the HSA Modernization Act which would expand HSAs through a handful of measures that permit more Americans to open and fund accounts and provide more flexibility in plan design. Here’s an analysis of the major provisions […]
News from Washington Could Universal Savings Accounts Become a Reality When Trump Takes Office?There are a number of tax-advantaged savings accounts currently available to Americans that enable you to grow your savings, or withdraw your savings, with tax benefits. If some lawmakers have their way, there may be a new kind of account known as […]
News from Washington IRS: California Wildfire Victims Qualify for Tax Relief; Various Deadlines Postponed to October 15The IRS announced tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on January 7, 2025. These taxpayers now have until October 15, 2025, to file various federal individual and business […]
News from Washington Trump Taps Long-Time Tax Lobbyist Ken Kies for Key Treasury RolePresident-elect Trump announced that he will nominate Ken Kies, a long-time tax lobbyist in Washington, DC, to be Assistant Secretary for Tax Policy. Kies will serve as the senior advisor to the Secretary of the Treasury, and will be responsible for analyzing, […]
News from Washington Health Savings Accounts Poised for Comeback Under RepublicansRepublicans have a new chance to expand HSAs offered by employer plans when Congress reconvenes in 2025, revisiting a divisive policy that some Democrats support even as others denounce it as a tax break for the wealthy. Republican interest in revisiting HSAs is broad. Read […]