Description
Gain a better understanding of the reporting obligations of Form 8928 to minimize potential excise taxes, interest and penalties.
Many employers and group health plans are subject to strict requirements under Chapter 43 of the Internal Revenue Code, including Code sections 4980B, 4980D, 4980E, and 4980G. These taxpayers, however, may not understand how violations of these requirements implicate certain excise taxes, along with penalties and interest. This presentation will help employers, group health plans, and other taxpayers who are subject to these requirements identify when a violation triggers a filing requirement on Code section 8928, what tax liability, penalties, and interest are implicated by these violations, how to file this return, where to file this return, and how to avoid excise tax liability. This workshop is critical for impacted employers, group health plans, and other taxpayers to help identify and avoid considerable tax consequences, penalties, and interest implicated by these violations and filing requirements.
Date: 2024-03-19 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to describe what violations of the Internal Revenue Code trigger an excise tax that must be reported on Form 8928.
* You will be able to explain when an employer, a group health plan, or a plan administrator will be liable for excise taxes that must be reported on Form 8928 and how to calculate the taxes owed.
* You will be able to identify who must file a Form 8928 and how they can file the form.
* You will be able to recognize what exemptions there are from the excise tax reported on Form 8928.