National Association of Insurance and Financial Advisors

Update: Ways & Means Chairman Releases Fundamental Tax Reform Plan

February 27, 2014

Date: February 27, 2014 Issue: Federal Tax Action Taken: On February 26, House Ways & Means Committee Chairman Dave Camp (R-MI) released a discussion draft of his fundamental tax reform plan. The plan does  not impose new taxes on life insurance or annuity cash values. And it has largely left revisions to the Affordable Care Act for another day. It does, however, make significant changes to retirement savings tax rules, particularly those governing defined contribution (DC) plans (lik...

Update: Administration Partially Delays ACA Employer Mandate Penalties for Second Year

February 11, 2014

Date: February 11, 2014 Issue: Health Insurance (Employer Penalties) Action Taken:  On February 10, the Treasury Department issued final  regulations implementing the  Affordable Care Act’s  (ACA) employer responsibility rules. The final regulations provide conditional penalty delays for 2014 and, in some cases, for 2015 – marking the second year of delays for some provisions. For employers with 50 to 100 full-time equivalent workers, the employer responsibility provisions will no...