R&W Editor, Author at Ryan & Wetmore, P.C.

HHS issues new Provider Relief Fund reporting requirements

R&W Editor September 28, 2020 No Comments

HHS Announces New Provider Relief Fund Reporting Requirements

Medical Providers to Follow These New PRF Reporting Requirements

If you are a medical provider that received more than $10,000 in Provider Relief Fund payments, then this message is for you.

As of Saturday, September 19, 2020, the United States Department of Health and Human Services (HHS) released its Provider Relief Fund (PRF) Reporting Requirements detailing how medical providers who received more than $10,000 in PRF payments will be obligated to follow post-payment reporting requirements to report their use of funds.

R&W Editor September 17, 2020 No Comments

Employment Practices and Benefit-Related Liability

Employment practice disputes are a rapidly growing reason for civil lawsuits in the United States. A recent white paper from Advisen (a research firm for the insurance industry) shows that, in the last two decades, certain types of employment lawsuits have risen a whopping 400%. Examples include cases involving:

R&W Editor September 15, 2020 No Comments

Small Businesses: Are First-Year Depreciation Write-Offs Right for You?

Under today’s federal income tax rules, your business may be able to claim big first-year depreciation write-offs for eligible assets that are placed in service in the current tax year. But that strategy might not be right for every small business every year. Here’s what you should know before claiming 100% first-year bonus depreciation or first-year Section 179 deductions.

R&W Editor September 15, 2020 No Comments

Greater Workplace Safety Can Save Your Business Money

Workers’ compensation costs employers an average of $1.37 per $100 of payroll. That figure can vary widely, because dangerous occupations cost more to insure. The base cost for construction work could be $15.00 or more per $100, while it could be less than $0.25 per $100 for bank tellers. These figures on their own may seem small but, when applied to payroll for a workforce, they mount up fast. Understanding how your premiums are set may help lower your rates.

R&W Editor September 1, 2020 No Comments

Payroll Tax Deferral Notice

On August 28, 2020, the IRS issued Notice 2020-65 to provide guidance to employers on how to execute the President’s August 8^th executive order. The IRS issued a press release accompanying the Notice. We expect more guidance to be issued on this topic and we will communicate as soon as it becomes available.

R&W Editor September 1, 2020 No Comments

Push for Telemedicine Advances During the COVID-19 Pandemic

During the COVID-19 public health emergency, the use of telehealth services has skyrocketed, especially among at-risk seniors and patients located in rural areas with limited access to health care. In recent months, telemedicine has proven to be an effective and cost-efficient way to deliver care to patients — and government officials have taken notice.

If your company’s health insurance plan doesn’t already offer telemedicine options to workers, it’s time to consider adding it. If you do offer telehealth services, encourage employees to choose this option over traditional in-person appointments for preventive and other nonessential visits.

R&W Editor September 1, 2020 No Comments

Managing Risk for Remote Workforces in a Post-COVID-19 World

Pundits are predicting that even after the COVID-19 pandemic is ultimately brought under control — which might not occur for many more months — work-at-home arrangements will be more common than before the pandemic.

“While the experience of working at home during the crisis may not have been ideal as whole families sheltered in place, it will give people a taste of what could be. The genie is out of the bottle and it’s not likely to go back in,” predicts Kate Lister, president of Global Workplace Analytics (a California-based research and consulting firm). She estimates that 25% to 30% of the workforce will be working from home multiple days a week by the end of 2021.

R&W Editor September 1, 2020 No Comments

Is Your Company in Compliance with Federal Anti-Discrimination Laws?

As the COVID-19 pandemic continues, the Equal Opportunity Employment Commission (EEOC) is reminding employers that they’re still prohibited from engaging in discriminatory practices covered by federal legislation. Here are some examples of major anti-discrimination laws that both employers and employees should review in the context of today’s unprecedented conditions.

R&W Editor August 19, 2020 No Comments

Beware: Retirement Plan Loan Defaults Can Be Costly

Economic fallout from the COVID-19 crisis may cause some cash-strapped individuals to default on loans they’ve taken out from company qualified retirement plans, including 401(k) and profit-sharing plans. Defaulting on a plan loan will cause adverse tax and retirement-saving consequences. Here are the details.

R&W Editor August 19, 2020 No Comments

Tax Considerations for Principal Residence Foreclosures Today

Despite the COVID-19 crisis, residential real estate prices generally remain stable or are even rising in many areas. Even so, pandemic-related financial stress may cause some homeowners to be unable to make their mortgage payments. Here are the range of federal income tax consequences that might happen if a lender eventually forecloses on a principal residence.