Thu.Jul 29, 2021

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Can Our Company’s Health FSA Reimburse a Doctor’s Monthly Fee That Is Payable Whether or Not the Patient Visits the Office?

ThomsonReuters

QUESTION: A few participants in our company’s health FSA told us that their doctors have started charging patients a monthly fee that is payable whether or not the patients visit the office. There is no additional charge for actual office visits. Can our health FSA reimburse this fee? ANSWER: Generally, fees of this type are not reimbursable. In our view, such fees are like insurance because they are payable whether or not medical care is provided.

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Weekly Valuation: Bumble

Valutico

Weekly Valuation: Bumble. Earlier this year US dating app Bumble went public, making headlines as its CEO became the youngest woman to take a company public and to become a billionaire, at age 31. Bumble stood out in the dating market for its unique approach, and for its independence, in a market that was largely consolidated by the Match.com, owner of Tinder, Match and many other leading dating apps, but how have investors reacted to the offering.

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IRS Provides Additional Guidance on COBRA Premium Subsidy

ThomsonReuters

IRS Notice 2021-46 (July 26, 2021). Available at [link]. The IRS has issued additional Q&A guidance on the COBRA premium assistance provisions of the American Rescue Plan Act of 2021 (ARPA). Under ARPA, a 100% COBRA premium subsidy and additional COBRA enrollment rights are available to certain assistance eligible individuals (AEIs) during the period beginning on April 1, 2021, and ending on September 30, 2021 (the “Subsidy Period”) (see our Checkpoint article ).

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Proposed Regulations Would Substantially Expand Mandatory Electronic Filing of Information Returns

ThomsonReuters

Electronic-Filing Requirements for Specified Returns and Other Documents, 26 CFR Parts 1, 53, 54, and 301, 86 Fed. Reg. 39910 (July 23, 2021). Available at [link]. The IRS has proposed regulations that would substantially expand mandatory electronic filing of information returns, reflecting statutory changes made by the Taxpayer First Act of 2019 (TFA).

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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DOL FAQs Address Deadline for Lifetime Income Illustrations Required by SECURE Act

ThomsonReuters

Temporary Implementing FAQs: Pension Benefit Statements—Lifetime Income Illustrations Interim Final Rule (July 26, 2021). Available at [link]. The DOL has issued four temporary FAQs addressing time-sensitive issues raised by its interim final regulation (IFR) regarding the lifetime income illustrations requirement for defined contribution plans, including 401(k) plans (see our Checkpoint article ).

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Last Week in Payroll: Heat Index

ThomsonReuters

Heat Index. According to the National Weather Service, the period from July 1, 2021 to July 13, 2021 has seen the hottest average temperatures (73.5 degrees F) on record. Death Valley in California hit a high temperature of 130 degrees F on July 9, 2021. That’s close to the record of 134 degrees F, which was set back in 1913. Throughout much of the United States, summer is hot and humid, which can make outdoor activities challenging and dangerous.

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