Thu.Aug 05, 2021

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Details on the Latest Notice on the Employee Retention Credit

ThomsonReuters

On August 4, 2021, the IRS released Notice 2021-49 that provides additional guidance regarding claiming the Employee Retention Credit (ERC) for employers who pay qualified wages after June 30, 2021, and before January 1, 2022 [IR 2021-165,?Notice 2021-49]. Overview. The Employee Retention Credit is a refundable tax?credit against certain employment taxes of the qualified wages an eligible employer pays to employees?

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Tax software red flags and what to do about them

ThomsonReuters

It is time to point a critical lens at the tax software your firm is using and ask yourself the question: is it working for us? Your tax software is one of the strongest tools at your disposal for increasing efficiency and making life easier for your clients and your team, but is it enough? . Changing tax software can be a daunting process – but is essential for any firm looking to grow and increase the efficiency and breadth of services they can provide their clients.

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MSP Reporting System Updated to Support Group Health Plans in Reporting Primary Prescription Drug Coverage

ThomsonReuters

MMSEA Section 111 MSP Mandatory Reporting, GHP User Guide, Version 6.2 (Rev. 2021/11 June); CMS Technical Alert: Inclusion of Part D Information in Section 111 Query Only Response File for Responsible Reporting Entities (RREs) That Provide Primary Prescription Drug Information (June 28, 2021). User Guide. Technical Alert. CMS has updated its GHP User Guide and issued a technical alert on the Medicare Secondary Payer (MSP) reporting processes for prescription drug coverage, which became mandatory

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OCR Newsletter Emphasizes Controlling Access to PHI, as Government Launches Website to Defend Against Ransomware

ThomsonReuters

Summer 2021 Cybersecurity Newsletter—Controlling Access to ePHI: For Whose Eyes Only? (July 14, 2021); CISA: New StopRansomware.gov website—The U.S. Government’s One-Stop Location to Stop Ransomware (July 15, 2021). Newsletter. Ransomware. OCR has released its Summer 2021 Cybersecurity Newsletter, emphasizing the importance of regulating access to PHI using the HIPAA security rule’s standards for information access management and access control.

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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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HHS Addresses Application of ADA and Section 1557 Nondiscrimination Rules to “Long COVID”

ThomsonReuters

Guidance on “Long COVID” as a Disability Under the ADA, Section 504, and Section 1557 (July 26, 2021). Guidance. Press Release. HHS has issued guidance advising that “long COVID” can be a disability under Titles II (state and local government) and III (public accommodations) of the Americans with Disabilities Act (ADA) and Section 1557 of the Affordable Care Act.

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How Do We Prepare a Plan Document for a Self-Insured Health Plan?

ThomsonReuters

QUESTION: Our company is changing from an insured medical plan to a self-insured arrangement. Should we create a plan document, or should we use a document from our TPA? ANSWER: Your company, as the plan sponsor, is responsible for the content and formal adoption of the ERISA-required written plan document. You have these responsibilities whether the plan is insured or self-insured, but they are more significant with a self-insured health plan because the employer typically is financially resp