News & Announcements
Please note that some items may have a link to additional information in PDF format. The Adobe Acrobat Reader is required to view PDF documents. If you do not have the latest version of the reader already installed, you can download the Adobe Acrobat Reader here.

2019 Standard Mileage Rates for Business, Medical, and Moving

CLICK HERE to view the updated standard mileage rates for 2019.

2018 Standard Mileage Rates for Business, Medical, and Moving

CLICK HERE to view the updated standard mileage rates for 2018.

2018 Minimum Wage Increase

The minimum wage will increase as of January 1, 2018.
Please see the attached PDF for further information.

1099 Reporting Requirements

Congress is increasing the penalties for failure to file or the late filing of Forms 1099.
Due to this increase, we feel it is necessary to remind you of the specifics related to issuing 1099s.
Please see the attached PDF for further information.

New Overtime Exemption Rules Delayed

Reprint from 44 North

The overtime exemption rules update for December 1st of this year has been delayed.
Please read the attached PDF for more information on this change.

Change in W-2 and 1099 Filing Due Date

January 31, 2017 is the new filing due date for forms W-2, W-3, and 1099-MISC.
Please see the attachment below for additional requirements and information.

IRS Finalizes Repair and Maintenance Expenses Regulations

The Internal Revenue Service finalized regulations in 2013 regarding repair and maintenance expenses.
Please read the attachment for more information on the capitalization policies.

What Employers Need to Know Right Now about Healthcare Reform

Reprint from PPACA Advisor

Dear Client:

On May 8, 2013, the Department of Labor (DOL) published Technical Release No. 2013-02, guidance about the notice that most employers nationwide must provide to their employees no later than October 1, 2013, under the Patient Protection and Affordable Care Act (PPACA or ACA). The Notice describes the health insurance that will be available through health care marketplaces established by the ACA, known as "Exchanges." This notification requirement applies whether or not employees are covered in the employer’s health plan (if any), and whether they are seasonal, temporary, part-time, or full-time. The Exchange (Marketplace) Notice does not need to be given to Cobra participants, retirees, or dependents.

Which Employers Need to Provide the Exchange Notice?
Employers subject to the Fair Labor Standards Act are subject to providing the Exchange Notice. This includes:
* All hospitals, nursing homes and other health care facilities regardless of size
* All public and private preschools, elementary schools, secondary schools, and institutions of higher education, regardless of size
* All governments and governmental agencies, regardless of size
* All other entities with $500,000 or more in annual dollar volume

On September 11, 2013, the DOL announced that it will not penalize employers that do not provide the Exchange Notice. However, just because there is no automatic fine for non-compliance, it does not mean that noncompliance is your best or only option. In fact, employers may have liability in this area. Employers with questions about potential liability should consult a labor attorney.

Be sure to read the PDF below, Marketplace Notice FAQ, which provides answers to frequently asked questions in regard to the Exchange Notice requirements.

Model Notices for Employers to Use
The DOL has created model notices that employers can use to meet the Exchange Notice requirement:

* Model Notice for employers that offer a health plan to some or all employees CLICK HERE

* Model Notice for employers that do not offer a health plan to any employees CLICK HERE

For the employees’ ease of understanding this notice, it is recommended that the employers complete Page 2 (Part B) prior to distribution of either form. Page 3 of the first notice can be completed but is not required. If you intend to complete page 3 please note this page does require employee-specific information that may make it impractical to complete for all employees by October 1, 2013.

If you have any questions regarding the Exchange Notice requirements, please contact our office at (906) 482-6601. For a full listing of frequently asked questions and answers, please follow this link to our website.

Reporting Unclaimed Property

December 30, 2011

The State of Michigan Treasury is providing entities that have not previously reported or have underreported unclaimed property in the past with an opportunity to voluntarily comply with the requirements of the Act by offering a Voluntary Disclosure Program. This program will waive all penalty and interest on property voluntarily remitted pursuant to your enrollment in this program. To enroll in the program, complete and return the Michigan Unclaimed Property Voluntary Disclosure Agreement (Form 4869) by January 31, 2012. If you are certain you do not have unclaimed property to report and remit, complete and return the Attestation of Compliance with Unclaimed Property Reporting (Form 4305) by January 31, 2012.

If you have already filed Form 4305 for the year ending March 31, 2011, disregard any current notices you received.

The due date for filing the unclaimed property annual report is July 1 for property reaching its dormancy period as of March 31, and for each year thereafter.

For more information, please visit the State of Michigan Treasury website at CLICK HERE
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Rukkila, Negro and Associates, CPAs, PC
310 Shelden Avenue • Houghton, MI 49931
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