Alston & Bird Tax Blog

safe harbor

Testing for COVID and Your Kits for Free: Expanded Coverage of OTC COVID-19 Test Kits and Developments in Preventive Care

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Have questions about the new Frequently Asked Questions for group health plans’ coverage of over-the-counter COVID-19 test kits? Our Employee Benefits & Executive Compensation Group addresses key provisions of the extensive requirements for plans and issuers. Plans have a pair of safe harbors to limit reimbursement to $12 per test and limit the number of tests available to eight per month (or 30 days) Plans have some flexibility to prevent fraud and offer education to participants Certain plans must provide preventive care for colonoscopies and contraceptive services Read the [...]Read more

Down the Rabbit Hole: Guidance Addressing Downward Attribution After Repeal of Section 958(b)(4)

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The IRS released Proposed Regulations and a Revenue Procedure addressing the Tax Cuts and Jobs Act’s repeal of Section 958(b)(4). Our International Tax Group explores how this guidance affects numerous provisions of the Code. Downward attribution beyond Subpart F, GILTI, and Section 965 Silence on the portfolio interest exemption Safe harbors and eased reporting requirements Read the full advisory here. [...]Read more