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IRS Form 8928: Excise Tax Reporting Update

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.

Learning Objectives

  • You will be able to identify the history and characteristics of Form 8928
  • You will be able to differentiate between types of failures
  • You will be able to identify penalty amounts
  • You will be able to identify due dates of various forms

65 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Form 8928 and Corresponding Group Health Plan/Employer Excise Taxes

  • The History of Form 8928 and the Underlying Excise Tax.
  • Who Must File the Form and When and Where Should It Be Filed?
  • How Are Interest and Penalties Applied?
  • How Can Taxpayers Submit a Claim for a Refund or Credit?

Form 8928 and the Excise Tax on the Failure to Satisfy Requirements Under Code Section 4980B

  • When Are Failures Under Code Section 4980B Triggered?
  • When Does Reasonable Cause Exist?

Form 8928 and the Tax the Failure to Meet Portability, Access, and Renewability Requirements Under Code Section 4980D

  • When Are Failures Under Code Section 4980D Triggered?
  • When Does Reasonable Cause Exist?

Form 8928 and the Tax on the Failure to Make Comparable Archer MSA Contributions Under Code Section 4980E

  • When Are Failures Under Code Section 4980E Triggered?
  • When Does Reasonable Cause Exist?

Form 8928 and the Tax on the Failure to Make Comparable HSA Contributions Under Code Section 4980G

  • When Are Failures Under Code Section 4980G Triggered?
  • When Does Reasonable Cause Exist?
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on March 19, 2024.

Call 1-866-352-9540 for further credit information.

  • AIPB 1.0
     
  • This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • HR Certification Institute 1.0
     
  • This E-Learning program has been pre-approved for 1.0 (General) recertification credit hours toward aPHR®, aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM), and SPHRi(TM) recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.0
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

David M. Block

David M. Block

Groom Law Group, Chartered

David Marshall Block

  • Associate, Groom Law Group
  • Advises clients on a wide range of federal tax matters regarding employee benefits and executive compensation. My practice encompasses executive compensation, federal income and employment taxes, exempt organizations, and health and welfare arrangements
  • Served as a judicial law clerk for the Honorable Robert P. Ruwe at the United States Tax Court
  • Recipient of the Wilf Tax Scholarship and was named Graduate Editor of the Tax Law Review
  • Written work has been published in, among other places, Tax Notes and the University of Pennsylvania’s legal scholarship repository
  • B.A. degree, Haverford College; J.D. degree, University of Pennsylvania; LLM in tax law, New York University
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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All of your training, right here at Lorman.

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Product ID: 411160
Published 2024
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