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Month: November 2018

New Requirement for All NY Employers

New York State has a new requirement for all employers in New York State to implement a program to prevent sexual harassment.  As part of this requirement, employers must adopt a sexual harassment prevention policy that includes a complaint form for an employee to report alleged incidents of sexual harassment.   In addition, employers must provide employees with sexual harassment prevention tr...

New Format for 1040

An earlier post discussed the new format of Form 1040 for the 2018 tax year.  The first draft form with the new format was issued at the end of June 2018.  The new format has significantly fewer lines on Form 1040 itself.  However, many items will now be reported on 6 separate schedules that flow into Form 1040. At the end of September 2018, the IRS released draft instructions for the 2018 ...

HSA Update

As discussed in the post on March 20, 2018, the IRS had made a retroactive reduction to the dollar limit for certain contributions to a health savings account (HSA).  After making this reduction, the IRS later changed the limit back to the originally-announced amount. As a reminder: An HSA allows taxpayers (or their employers) with high deductible health insurance plans to contribute funds on...