From our 2020 Year in Review: It comes as no surprise that 2020 was a difficult year here at Kapnick, just as it was throughout the world. Yet from disruption comes innovation, and we’re proud of the way the Kapnick team banded together to serve our clients through uncertainty, regulation fluidity, and stress. Our principles and familial corporate culture provided the roadmap for our responses. Now, more than ever, we know what we’re capable of and that’s excellence, despite our physical locations or circumstances. Please check out our Year in Review to see more of what we accomplished in 2020….
Quick Facts: In Notice 2020-76, the IRS extended the 2021 deadline for employers and insurers to furnish individual statements on 2020 health coverage and full-time employee status (Forms 1095-B and 1095-C) from February 1 (generally due January 31, but this year it is a Sunday) to March 2, 2021. The notice also extends the good-faith penalty
Background: In connection with the COVID-19 epidemic, the U.S. Congress passed the CARES Act in order to provide financial support and relief to businesses and individual citizens. As part of the CARES Act, the Paycheck Protection Program (‘PPP’) was put in place to provide potentially forgivable loans to small businesses (under 500 employees) who were struggling financially due to the economic uncertainty of the pandemic. The PPP loans were administered by local, regional and national banks and the program is overseen by the Small Business Administration (‘SBA’). The Risk: Applicants for PPP loans needed to demonstrate that the loan request…
Now is the time to review your disaster recovery plans and procedures for hurricanes and other natural disasters. At Kapnick, we have tools to help, including emergency plan worksheets, checklists, and more. Storm’s brewing. Be prepared. When disaster hits, many businesses find themselves under-prepared.
To protect employees, customers and communities from the spread of the COVID-19 virus, the Michigan Occupational Safety and Health Administration (MIOSHA) launched a State Emphasis Program (SEP). This new initiative is aimed at helping businesses educate employees and customers on best practices
Quick Facts: The Affordable Care Act (ACA) requires health insurance issuers and employers that sponsor self‐insured health plans to pay Patient‐Centered Outcomes Research Institute fees (PCORI fees). Though the PCORI fee was scheduled to expire for plan years ending on or after October 1, 2019, it was extended to plan years ending on or before September
Accidents can happen at home and at work, even while doing mundane tasks, but taking steps to ensure you’re following the proper guidelines and safety measures is the first step toward preventing loss. Here we have one of our claim stories in which a fire from an overloaded outlet caused major building damage.
Keeping up with the most current information surrounding the No-Fault Reform can be challenging. Today we will cover exactly how benefits are prioritized in this update. What is Changing? PIP – Personal Injury Protection (PIP) will be transitioning to tiered levels of coverage. Drivers will have the ability to choose from various tiers that best fit their individual needs. These offerings include:
Quick Facts: On May 12, 2020, the Internal Revenue Service (“IRS”) released Notices 2020-29 and 2020-33, collectively providing guidance related to cafeteria plan elections, health flexible spending accounts (“Health FSAs”), and dependent care assistance programs (“DCAPs”).