dcsimg McElligott Interviewed by LexisNexis Tax Law Center

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McElligott Interviewed by LexisNexis Tax Law Center

March 23, 2010

In an interview with LexisNexis Tax Law Center March 18, 2010, partner Jay McElligott (Tax and Employee Benefits, Richmond) explained new self-reporting and excise tax obligations of employers who sponsor group health plans. Effective with plan years beginning after Jan. 1, 2010, employers now have a duty to self-report certain health plan regulatory violations and pay excise taxes, if those errors are not corrected within 30 days of the employer learning of the violations.

McElligott told LexisNexis that self-reporting on IRS Form 8928 will be required for excise taxes due for noncompliance with COBRA, HIPAA, GINA, MHPAEA, the Newborns’ and Mothers’ Health Protection Act, Michelle’s Law, and rules related to HSA and Archer MSA comparable employer contributions. The interview will be posted at law.lexisnexis.com/practiceareas/tax  and available by iPod.