On Oct. 13, 2017, the IRS reversed a recent policy change in how it monitors compliance with the ACA’s individual mandate. For the upcoming 2018 filing season (filing 2017 tax returns), the IRS will not accept electronically filed tax returns where the taxpayer does not certify whether the individual had health insurance for the year. In addition, paper returns that do not certify compliance with the individual mandate may be suspended pending receipt of additional information, and any refunds due may be delayed.
The 2011 reforms to Michigan’s workers’ compensation system continues to pay dividends for employers. Last week, the Michigan Workers’ Compensation Agency announced that the pure premium advisory rate for work comp insurance will decrease by 9.3 percent for 2018.
The countdown is on. Congress has less than 76 days to repeal or suspend the Health Insurance Tax (HIT), a $267 billion+ sales tax on health insurance. The Michigan Chamber is warning about the consequences of inaction: premium increases for businesses of all sizes and types, individuals, seniors, states, and taxpayers.
Lawmakers on both sides of the aisle agree on one thing: Michigan has the highest-in-the-nation auto insurance premiums and something must be done to drive down rates. The problem? Finding consensus on a solution that can garner the necessary 55 votes to pass a bill out of the Michigan House.
For the Michigan Chamber, the choice for lawmakers is clear: Do you support real, cost-saving reforms that will benefit the 7.1 million licensed drivers in Michigan or do you support so-called reforms being pushed by those who benefit most from the status quo?
The State of Michigan Unemployment Agency (MUA) has implemented numerous changes in recent years to its tax rate determination process. One of those changes could cause employers to pay additional taxes and interest on a retroactive basis. Employers unaware of these changes may suddenly find themselves having to pay back unemployment taxes and interest and penalty, even though they paid all the original taxes correctly and timely.
Efforts are heating up in Lansing to drive down the high cost of auto insurance in Michigan and the Chamber is taking a leadership role on the issue. Last week, the Chamber testified before a House Committee in support of the changes being pushed by House Speaker Tom Leonard and Detroit Mayor Mike Duggan.
Given Michigan’s highest-in-the-nation auto insurance premiums, the Chamber is advocating for the legislature to make meaningful auto insurance reform a top priority for the fall legislative session.
Legislation championed by the Michigan Chamber passed the State Senate last week to prohibit local units of government from passing laws to restrict what private sector employers can ask in the interview process. This legislation is being pursued after several large cities, including Philadelphia and New York City, passed ordinances prohibiting employers from asking an interviewee about his or her salary history.
The Michigan Chamber today blasted a flawed and incomplete report released by the House Fiscal Agency (HFA) on legislation to reform Michigan’s broken, outdated auto no-fault insurance system. At issue is the HFA’s failure to consider consumer and business savings of $1 billion or more annually and to include real data from other states.
I own several buildings in Houston, Texas, which I acquired some 20 years ago so I could operate my company there. I left Texas in 2006, but the buildings stayed. When Hurricane Harvey arrived in August, I watched helplessly in a cabin up North as video streamed in showing rivers in Houston where freeways usually roared. My worst fears were confirmed when I got text messages from tenants indicating the buildings were filling with water.