Tax Law

James McElligott, of McGuireWoods, LLP, on Group Health Plan Failures, Enforcement of Sponsor Employer Reporting Requirements, and the Related Excise Tax Regime

On this edition, James McElligott discusses employer obligations to report failures related to the group health plans they sponsor and related compliance awareness issues with excise tax implications. Mr. McElligott describes how plan failure reporting enforcement ranks as an IRS priority. He examines employer discovery of compliance failures, self-reporting discipline and procedure, and the significant tax penalties that are tied to non-compliance. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. All rights reserved.