
INSIGHTS FROM OUR NATIONAL TAX OFFICE	NOVEMBER 3, 2015

In Case You Missed It

The information below provides a short review of various tax information items Eide Bailly recently published. To read more, click the "Learn More" link or the download link shown with each summary.

Articles from Our "Possibilities for Businesses and Individuals" Newsletter

Download our newsletter to read more about these items.

Affordable Care Act: Employer Reporting Requirements Update (page 5)

Beginning in 2015, the Affordable Care Act requires employers with 50 or more full-time equivalent employees (i.e., "applicable large employers" or ALEs) to file forms 1094-C and 1095-C with the IRS, as well as provide a copy of the 1095-C to each of their full-time employees. If the employer has a self-funded plan, they will also need to give part-time employees who enroll in that coverage a form 1095-C. Note: Small employers with self-funded plans need to file similar forms. These forms are called 1094-B and 1095-B.

By Any Other Name, It's Still Tax Legislation (page 6)

With a name like The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (which we will call the Highway Bill), you might not think that this legislation, which is necessary to deal with a lack of money in the Highway Trust Fund, would contain income tax provisions, but it does. There is not enough money in the Highway Trust Fund to pay for the extension, and dedicated sources of funds won't cover the cost; therefore, mostly income tax provisions are required to help pay for part of the funding requirements created by the new legislation.

Retirement Planning: It's Really About Cash Flow (Cover page)

If you take time to think about it, retirement planning is really not about retirement, it's about cash flow. It's about doing things to create, or preserve, the largest amount of cash flow potential you can, at any point in time, so whenever you decide to "retire," (however you define that event) you will have enough cash flow available to allow you to meet your lifestyle desires and requirements without completely depleting your assets.

Resurrecting Depreciation Provisions (Back page)

The higher deduction levels of Section 179, along with the bonus depreciation provision, expired December 31, 2014, as did approximately 60 other tax extender provisions. While tax legislation can be challenging to predict, recent events have given us some glimmer of hope that the lapsed depreciation provisions will be resurrected and even improved.

The Look-Back Measurement Period Safe Harbor and the 95% Coverage Requirement

Starting January 1, 2016, Applicable Large Employers (ALEs) will face penalties for not offering coverage even if insurance is provided to full-time employees. The Affordable Care Act requires ALEs to offer coverage to substantially all full-time employees or pay a "no offer" penalty. The coverage requirement is 70 percent for 2015 for employers who meet the transition relief. Without further transition relief in sight, the percent covered requirement will increase to 95 percent. Learn More.

Employers: Personal Use of Vehicles for Employees

Eide Bailly's Personal Use of Auto Packet details the reporting rules regarding employers who furnish vehicles to employees for the employee's personal use. Employers are required to add the personal use value of the vehicle to the employee's W-2. As an option, the employee could pay the employer for the personal use of the "employer-provided" vehicle. Download our Personal Use of Auto packet to learn more.

2015 Year-End Tax Planning Guide

The 2015 Tax Planning Guide discusses the current tax law and what steps you might take to minimize your taxes. We encourage you to look through this planning guide for strategies that may benefit you; we can then discuss these strategies and how they may impact your specific situation. Download the guide.

2015 Amnesty Program Update

Amnesty programs are occasionally offered by states and cities and generally offer a waiver or reduction of penalties/interest, along with other possible waivers. The most recent addition to the Amnesty Program Update is information on Tucson, Ariz. Learn more.

National Tax Office Team Growth

The Eide Bailly National Tax Office is proud to welcome Carrie Cereghino, Matthew Stangl, and Gloria Johnson to our international tax team; Andrew Stolle to our research and development tax incentives team; and Jason Fritts as the new lead of our transfer pricing service area. Download our tax solutions brochure to learn more about our National Tax Office.

Eide Bailly's National Tax Office serves as a resource for clients to help analyze complex tax issues related to business decisions. Our professionals are committed to helping clients stay informed about tax news, developments and trends through various specialty areas, including cost segregation studies, wealth transfer, state and local taxation, international tax, IRS controversy and procedures, R&D tax incentives, tax-exempt organizations, tax legislation, accounting methods and pass-through entities.

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This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Eide Bailly LLP and the author do not assume responsibility for any individual's reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique before recommending the technique to a client or implementing it on the client's behalf. To request reprints of this publication, send a written request to RequestReprints@eidebailly.com. � 2015 Eide Bailly LLP.