Posts

Showing posts with the label HR Works

IRS Announces Mileage Rate for 2025

The Internal Revenue Service (IRS)  announced  the 2025 standard mileage rate. The increase began on  January 1  and raised the rate from 67 cents per mile to 70 cents per mile.   These rates apply to electric and hybrid-electric automobiles, as well as gasoline- and diesel-powered vehicles.   Next Steps for Employers   The IRS rate for mileage reimbursement is an optional business standard rate that is typically used to compute the deductible costs of operating an automobile for business use, instead of tracking actual costs. Employers who are not in states where they are required by law to reimburse employees for business-related expenses, including mileage, can set any reimbursement rate, up to the IRS rate. Regardless of whether employers decide to adopt the IRS reimbursement rate, it is recommended that the organization’s reimbursement policy specifies the amount that employees will receive for mileage and that the policy is applied consistently....

PCORI Fees Due July 31

  The  Affordable Care Act (ACA)  requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). Issuers and plan sponsors are generally required to pay the PCORI fees annually by  July 31  of each year.   What Is the PCORI Fee?   The PCORI fee is a fee for issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans that help to fund the  Patient-Centered Outcomes Research Institute (PCORI) . The institute helps patients, clinicians, purchasers, and policymakers make better-informed healthcare choices by advancing clinical effectiveness research.  PCORI fees under the Affordable Care Act were scheduled to end after September 30, 2019; however, Congress extended these fees to be assessed by the IRS under the  Further Consolidated Appropriations Act of 2020  for another ten years, until at least September 30, 2029...