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Aprio cloud blog

Laura Ring

Laura Ring
Laura is our Director of Tax and helps out clients with tax planning and compliance as they start and grow their businesses.
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Recent Posts

HRAs Allow Small Companies To Reimburse Employees For Health Benefits

By Laura Ring • January 11, 2017 at 10:30 AM • Tax and Compliance

Great news for smaller employers that want to help their employees purchase health insurance, but can’t afford a group plan.  On December 13, 2016, the “21st Century Cures Act” was signed into law.  The law, besides speeding up drug and innovative treatments, allows small employers to once again provide health insurance reimbursements to their employees by using a Health Reimbursement Arrangement (HRA) account.

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FBAR Filing Requirements and Upcoming Changes

By Laura Ring • July 11, 2016 at 3:00 PM • Tax and Compliance

Foreign filing requirements, and in particular, the FBAR, is one of the most important tax filings to have filed on time and correctly in the U.S. 

The filing penalties for the FBAR start at a nominal fee of $10,000 for late filings, and it is a lot different when $10,000 accrues interest vs what a smaller income or local delinquent filing might add up to. There is a rigorous abatement process that in our experience has allowed us to relieve many individuals of these steep penalties. However, that process costs money and time to work through too with a risk of still having to pay the tax liability. This being said, the best way to avoid penalties is to file these returns on time and correctly the first time. Here are some details to help you determine if and when you need to file the FBAR.

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