IRS NEWS FOR SD BUSINESS
NOVEMBER 2013
▪ SCORE will have a workshop on Novmeber 2 for business start-ups. Contact the Sioux Falls SBDC (605-367-5757) or SBA office (605-330-4243) to register.
▪ IR 13-77 The Internal Revenue Service reminded taxpayers that the Oct. 15 deadline remained in effect for people who requested a six-month extension to file their tax return.
▪ Notice 13-65 announces the special per diem rates effective October 1, 2013, for the transportation industry, for the incidental expenses only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method.
▪ Notice 13-61provides guidance to employers and employees to make claims for refund or adjustments of overpayments of Federal Insurance Contributions Act (FICA) taxes and Federal income tax withholding (employment taxes) resulting from the Supreme Court decision in United States v. Windsor,
▪ 5 Ways to Start a Business Plan from SBA
Health Care:
▪ Notice 13-54 provides guidance on the application of the market reform provisions and other provisions of the Affordable Care Act to certain healthcare arrangements, including health reimbursement arrangements (HRAs), employer payment plans, and health flexible spending arrangements (health FSAs).
▪ A report released by the Department of Health and Human Services) on Sept. 12, 2013, shows that 6.8 million consumers saved an estimated $1.2 billion on health insurance premiums in 2012, due to the “rate review” provision of the Affordable Care Act.
▪ How will the Affordable Care Actaffect your business? Debunking myths.
▪ New Guidance on Information Reporting Requirements Under the Affordable Care Act
Employers that are subject to the Employer Shared Responsibility provisions must report certain information regarding the health coverage they offer their full-time employees.
▪ The Prairie Family Business Association is holding a conference on November 7, 2013
in Bismarck, ND.
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NOVEMBER 2013