Beginning on Oct. 1, employers, including associations, must provide notice to new employees about the Affordable Care Act’s health insurance exchanges and potential eligibility for premium tax credits, among other issues. Employers must notify workers about premium tax credits and eligibility requirements for the Exchange; under the ACA, an employee whose employer-provided insurance costs exceed 9.5% of their income are eligible for premium assistance and to enter the Exchange.
The U.S. Financial Accounting Standards Board Norwalk, Conn., and the International Accounting Standards Board, London, as part of their project to create a new international GAAP standard, has issued a draft proposal for how to deal with leases. They suggest a dual-recognition approach, with lessees recognizing assets and liabilities for leases longer than one year. Both organizations are accepting comments until Sept. 13.