Tax News

Employer payments for your health coverage are fully tax free. This rule does not change in 2014 when the health care mandates go into effect. But are cash payments that an employer pays to an employe...

Health savings accounts (HSAs) are a viable way to obtain affordable health coverage. In order to make contributions to these accounts, you must be covered by a high-deductible health plan (HDHP). The...

Despite a massive tax bill enacted at the start of this year, there are a number of new tax proposals in the works. Whether any of them will ultimately come to pass remains to be seen. However, if you...

The Affordable Care Act provides that a group health plan or health insurance issuer offering group health insurance coverage cannot have a waiting period of more than 90 days. The IRS, the Department...

Social Security benefits can be paid to disabled workers. Such benefits are taxable in the same manner as Social Security benefits paid to retirees. In some cases, the benefits received are reduced by...

If you are self-employed, or a more-than-2% S corporation shareholder, and obtain your health insurance through Medicare, you can treat your monthly premiums as a deduction from gross income. You donâ...

The U.S. Supreme Court has decided that the Patient Protection and Affordable Care Act of 2010 is constitutional. The basis for its decision: that the penalty for not carrying health coverage starting...

More than 11 million people have health coverage through a combination of a high-deductible health plan and a health savings account (HSA). The number of people with HSAs continues to grow annually. T...

The U.S. Supreme Court is determining whether the personal mandate for every individual to carry health coverage is constitutional. This personal mandate is set to take effect in 2014; those who refus...

For the majority of Medicare enrollees (those that were held harmless in 2011), the basic 2012 monthly premium for Part B will increase by only $3.50 to $99.90, compared with $96.40 in 2011. The law p...

The Court of Appeals for the Sixth Circuit has affirmed a district court decision that the requirement to purchase health coverage, which was created by the Patient Protection and Affordable Care Act ...

Reversing its prior position, the IRS has now concluded that the cost of breast pumps and supplies that assist lactation are medical care. Like obstetric care, the lactation equipment affects the stru...

A federal district court in Virginia has decided that the individual health coverage requirement in the Patient Protection and Affordable Care Act, which was to become effective in 2014, is unconstitu...

For the majority of Medicare enrollees, the basic 2011 monthly premium for Part B remains at $96.40 (the same since 2008). The law prevents a hike in the Part B premiums for Social Security recipients...

The Affordable Care and Patient Protection Act of 2010 and the Health Care and Education Reconciliation Act of 2010 comprise the historic health care reform package that will overhaul health care in A...

The Patient Protection and Affordable Care Act, which was signed into law on March 23, 2010, mandates that every American, with few exceptions, have health coverage starting in 2014. Failure to obtain...

As a supplement to the Patient Protection and Affordable Care Act, which was signed into law on March 23, 2010, Congress has made a few tweaks, including:A tax of 3.8% of the lesser of the individua...

The House passed the Patient Protection and Affordable Care Act. The act contains numerous tax law changes that take effect over the next several years. Here are some of the highlights of tax changes ...

The Tax Court, in a lengthy opinion, for the first time has decided that gender identity disorder (GID) is a disease, so that treatment of that disease (reassignment surgery) is a deductible medical e...

Individuals can claim an itemized medical deduction for costs related to the diagnosis, mitigation, treatment, cure or prevention of disease, or any condition affecting any structure or function of t...