Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Affordable Care Act of 2010

Washington Alert – APTC face spotlight; TIGTA on IRS Automated Underreporter Program; 3 More Banks enter Swiss Bank Program

Washington Alert – APTC face spotlight; TIGTA on IRS Automated Underreporter Program; 3 More Banks enter Swiss Bank Program

The use of the advance premium tax credit (APTC) provided for by the Affordable Care Act and the administration of the tax credit are now in the spotlight of Sen. Orrin Hatch (R-UT), chairman of the Senate Finance Committee. During July 16 testimony before Hatch’s panel, the Government Accountability Office (GAO) revealed it had conducted […]

Read the full article →

Washington Alert – Rand Paul supports lawsuit to strike down FATCA;U.S. and the Philippines sign an IGA; IRS webinars on ACA

Washington Alert – Rand Paul supports lawsuit to strike down FATCA;U.S. and the Philippines sign an IGA; IRS webinars on ACA

Sen. Rand Paul (R-KY) on July 14 joined six other plaintiffs in filing a lawsuit in U.S. District Court for the Southern District of Ohio that, among other things, would strike down the Foreign Account Tax Compliance Act (FATCA)-related intergovernmental agreements (IGAs) the U.S. has signed with Canada, the Czech Republic, Israel and Switzerland. (Crawford […]

Read the full article →

IRS Commissioner details how taxpayers handled ACA provisions on their 2014 returns

IRS Commissioner details how taxpayers handled ACA provisions on their 2014 returns

IRS Commissioner John Koskinen has written Members of Congress to report on how individual taxpayers handled Affordable Care Act (ACA) provisions on their 2014 returns. The provisions at issue are the premium tax credit and advance premium tax credit for certain qualifying individuals, and the individual shared responsibility payment that taxpayers must make if they […]

Read the full article →

Small employers cautioned: relief for paying employee’s health insurance premium ended June 30

Small employers cautioned: relief for paying employee’s health insurance premium ended June 30

Small employers—i.e., employers who are not applicable large employers (ALEs)—who reimburse or pay a premium for an individual health insurance policy for an employee should be aware that they may be subject to a $100 per day ($36,500 per year), per employee excise tax. Transition relief from the Code Sec. 4980D excise tax ended June […]

Read the full article →

Final regs clarify preventive services under ACA & exemption from contraceptive mandate

Final regs clarify preventive services under ACA & exemption from contraceptive mandate

T.D. 9726, 07/10/2015; Reg. § 54.9815-2713, Reg. § 54.9815-2713A, Labor Reg. 2590.715-2713, Labor Reg. 2590.715-2713A, 47 CFR 147.131 IRS, the Department of Health and Human Services (HHS), and the Department of Labor (DOL) (collectively, the Departments) have issued final regs on the coverage of certain preventive services under the Affordable Care Act (ACA).The regs finalize […]

Read the full article →

Extensions will be available for certain ACA information reporting deadlines

Extensions will be available for certain ACA information reporting deadlines

On the July 2 payroll industry telephone conference call, IRS said that employers will be able to request an extension of the Affordable Care Act (ACA) filing deadlines for: (a) filing information returns with the IRS, and (b) furnishing ACA statements to payees. Background. Code Sec. 6055(a) generally requires every health insurance issuer, sponsor of a […]

Read the full article →

Obama pushes state Medicaid expansion in healthcare hub Nashville

Obama pushes state Medicaid expansion in healthcare hub Nashville

NASHVILLE, Tenn. (Reuters) – Fresh from another Supreme Court validation of his landmark healthcare law, President Barack Obama visited healthcare hub Nashville, Tennessee on Wednesday to push state governments to expand the Medicaid health program for the poor. Obamacare, as the president’s law is known, envisions a major expansion of the program, but nearly half […]

Read the full article →

Medical device qualifies for retail exemption to manufacturer’s excise tax

Medical device qualifies for retail exemption to manufacturer’s excise tax

PLR 201520006 In an internal legal memorandum (ILM), IRS concludes that a medical device isn’t subject to the Code Sec. 4191 2.3% manufacturer’s excise tax. On the total facts and circumstances, the device falls within the retail exemption to the excise tax, even though it cannot be bought by non-medical professionals in person, by phone […]

Read the full article →

Top Obamacare official looks ahead after Supreme Court ruling

Top Obamacare official looks ahead after Supreme Court ruling

WASHINGTON (Reuters) – The U.S. official overseeing Obamacare said on Fridayshe has not seen any indication that states will back away from running their own health insurance marketplaces now that the Supreme Court has validated the federal insurance exchange. Sylvia Burwell, secretary of Health and Human Services, also said she expected enrollment in both the state […]

Read the full article →

TIGTA critical of IRS handling of premium tax credit claims; recommends improvements

TIGTA critical of IRS handling of premium tax credit claims; recommends improvements

A report by the Treasury Inspector General for Tax Administration (TIGTA) concludes that IRS’s preparations for verifying the accuracy of premium tax credit (PTC) claims during the 2015 Filing Season fell short of the mark. It recommends that IRS revise the way it verifies PTC claims and suggests ways to better identify certain erroneous PTC […]

Read the full article →

Supreme Court Upholds Subsidies For Health Care Purchased On Federal Exchange

Supreme Court Upholds Subsidies For Health Care Purchased On Federal Exchange

King v. Burwell, (Sup Ct 06/25/2015) 115 AFTR 2d ¶2015-841 In a highly anticipated decision, the Supreme Court by a 6-3 margin has determined that premium tax credits under Code Sec. 36B, also known as health insurance subsidies, are not limited solely to taxpayers who live in States that have established their own health insurance […]

Read the full article →

Guidance on certain multiemployer DB plans applying for suspension of benefits

Guidance on certain multiemployer DB plans applying for suspension of benefits

T.D. 9723, 06/17/2015, Reg. § 1.432(e)(9)-1T, Preamble to Prop Reg06/17/2015, Prop Reg § 1.432(e)(9)-1 , Rev Proc 2015-34, 2015-26 IRB Contemporaneously, IRS has released temporary regs, proposed regs, and a revenue procedure to provide guidance to multiemployer defined benefit pension plans in critical and declining status, on how to apply for approval of a proposed […]

Read the full article →

Final regs amending the disclosure rules for group health plans and health insurance issuers

Final regs amending the disclosure rules for group health plans and health insurance issuers

T.D. 9724, 06/12/2015; Reg. § 54.9815-2715; Labor Reg. 2590.715-2715 IRS, the Employee Benefits Security Administration (EBSA), and the Department of Health and Human Services (the Departments) have issued final regs amending the disclosure rules for group health plans and health insurance issuers, with regard to a “summary of benefits and coverage” (SBC) and a uniform […]

Read the full article →

U.S. top court backs Obamacare, president says it’s here to stay

U.S. top court backs Obamacare, president says it’s here to stay

WASHINGTON (Reuters) – The U.S. Supreme Court on Thursday rejected a conservative legal challenge that could have doomed President Barack Obama’s healthcare law, upholding nationwide tax subsidies crucial to his signature domestic policy achievement. Obama strode into the White House Rose Garden after the ruling to declare that the law known as Obamacare is working, […]

Read the full article →

IRS Finalizes Regs on Gift/Estate Tax Portability Election

IRS Finalizes Regs on Gift/Estate Tax Portability Election

Preamble to TD9725, 06/12/2015; Reg. § 20.2010-1, Reg. § 20.2010-2, Reg. § 20.2010-3 , Reg. § 25.2505-1, Reg. § 25.2505-2 Click here for TD 9725, 06/12/2015. IRS has issued final regs that provide guidance under Code Sec. 2010 and Code Sec. 2505 on the estate and gift tax applicable exclusion amount, as well as on […]

Read the full article →

Politicians Weigh Options in Case Supreme Court Strikes Down Health Insurance Subsidies

Politicians Weigh Options in Case Supreme Court Strikes Down Health Insurance Subsidies

With the Supreme Court’s King v. Burwell decision expected in the coming weeks, politicians on both sides of the aisle are considering how to deal with the aftermath of a potential ruling striking down premium tax credits under Code Sec. 36B, also known as health insurance subsidies. Although the Affordable Care Act (ACA) is still an unpopular […]

Read the full article →

Final Regs Issued on SBC & Uniform Glossary Requirements for Health Plans

Final Regs Issued on SBC & Uniform Glossary Requirements for Health Plans

T.D. 9724, 06/12/2015; Reg. § 54.9815-2715; Labor Reg. 2590.715-2715 Click here for TD9724, Summary of Benefits and Coverage and Uniform Glossary. IRS, the Treasury Department, the Employee Benefits Security Administration, the Labor Department, the Centers for Medicare & Medicaid Services, and the Department of Health and Human Services (the Departments) have issued final regs concerning […]

Read the full article →

As Supreme Court Obamacare case looms, Republicans split on response

As Supreme Court Obamacare case looms, Republicans split on response

WASHINGTON/NEW YORK (Reuters) – U.S. Republicans face a potential political backlash from voters if the Supreme Court rules soon against President Barack Obama’s healthcare law, and are split over what to do about it, with some calling on the Obama administration for help. But the White House, perhaps sensing a chance to blame Republicans for […]

Read the full article →

Obama : No reason for Supreme Court to overturn healthcare law

Obama : No reason for Supreme Court to overturn healthcare law

KRUEN, Germany (Reuters) – U.S. President Barack Obama said on Monday that he was confident the Supreme Court would not rule against his healthcare law, describing it as an “easy case” that should never have been taken up by the court. The Supreme Court is expected to rule this month on King v. Burwell, a […]

Read the full article →

Taxpayers who filed using erroneous premium credit data may, but don’t have to, refile

Taxpayers who filed using erroneous premium credit data may, but don’t have to, refile

IRS has announced that taxpayers who were sent incorrect data on 2014 Form 1095-A, the form that provides data for individuals to compute the Code Sec. 36B premium tax credit, and who have already filed their 2014 tax returns, may, but do not have to, file amended 2014 returns to reflect information on corrected Forms […]

Read the full article →
Page 3 of 11« First...234...10...Last »
Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

Read More

Connect With Paul on Social Media

Practice Areas & Information

Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney