IRS/ERISA Limits and Updates
San Jose, California Howitt Benefit Services - IRS/ERISA Limits and Updates
The following resources are intended for employers seeking to better their understanding of the human resources benefits packages and important information regarding those benefit packages.
IRS Increases HSA Maximums For 2010 IRS Increases Health Savings Accounts (HSAs) Maximums for 2010 Revenue Procedure (Rev. Proc.) 2009-29- 2010 Maximum Benefit & Contribution Limits Chart - Benefit and Contribution limits for 2005-2010. Learn about Maximum Catch-up Contributions, Annual Compensation limits, 401(k) Elective Defferals, and taxation percentages of FICA taxes, Social Security taxes, and Medicare taxes for employees and employers.
- IRS 2009 HSA Maximums This revenue procedure provides the 2009 inflation adjusted amounts determined under § 223(g) of the Internal Revenue Code for Health Savings Accounts (HSAs).
- Imputed Income Calculator - Domestic Partner and Same-Sex Marriage Partner Imputed Income Calculator for Federal Income Tax Purposes.
- IRS Publication 502 -- Medical and Dental Expenses - This publication explains the itemized deduction for medical and dental expenses that you claim on Schedule A (Form 1040). It discusses what expenses, and whose expenses, you can and cannot include in figuring the deduction. It explains how to treat reimbursements and how to figure the deduction. It also tells you how to report the deduction and what to do if you sell medical property or receive damages for a personal injury.
- IRS Publication 503 -- Child and Dependent Care Expenses - This publication explains the tests you must meet to claim the credit for child and dependent care expenses. It explains how to figure and claim the credit. You may be able to claim the credit if you pay someone to care for your dependent who is under age 13 or for your spouse or dependent who is not able to care for himself or herself. This publication also discusses some of the empoyment tax rules for household employers.
- IRS Employer Tax Guide -- Employer's Tax Guide to Fringe Benefits - This publication contains information for employers on the employment tax treatment of fringe benefits. A fringe benefit is a form of pay for the performance of services. You will learn about the performance of services, what benefits will qualify, and the fringe benefit rules.
- Qualified Plan Bonding Requirements -- ERISA REquirements for Fidelity Bond - The Employee Retirement Income Security Act (ERISA) of 1974 was enacted to protect the rights of participants in qualified retirement plans. One of the requirements of ERISA is that each qualified plan maintain a fidelity bond. The bond must cover any person who handles funds or other property of the plan.
- Imputed Income - Table 1 Rates -- For reporting life insurance over $50,000 - When an employer provides group life insurance to an employee in excess of $50,000, the taxable value of that excess is referred to as "imputed income." Read this to find out the value of this excess insurance.