Government shutdown effects on flood insurance and the real estate market


While December 21, 2018 was the deadline for official decisions in order to prevent a government shutdown, agreements were not made. Now as we narrow in on the beginning of 2019, whether or not we’d like to start a new year in this way, there are many things still up in the air. One thing has been resolved though, after just a few days of major backlash.

FEMA, which oversees the National Flood Insurance Program, initially announced that there could be no business conducted regarding flood insurance until the shutdown was resolved. That included issuing of new business, renewals/reinstatements, or coverage changes on existing policies. Nothing. It was estimated that had this suspension continued, up to 40,000 real estate transactions (mainly the sale of homes in flood zones mandatory to carry special coverage) per month would be delayed. This would significantly affect homeowners, realtors, mortgage lenders, inspectors, and many other affiliates’ livelihood.

It was decided that this could drastically affect too many people in irreversible ways. Therefore as of December 28, just one week later, FEMA has reversed that decision and is now allowing all flood insurance business to continue for the time being.

Please contact [email protected] or (352)371-7977 with any questions regarding flood insurance in Florida.

The IRS Holiday Gift to Large Employer Health Plans


The IRS has an early holiday gift for employers, on November 29, 2018, the IRS released an extension for large employers to file the 2018 Form 1095-C or 1095-B under the Affordable Care Act requirements. The agency has pushed back a critical Affordable Care Act (ACA) deadline for the fourth year in a row.  The forms, which outline employer-provided medical benefits, must be submitted annually by businesses with 50 or more full-time workers. The IRS uses these reports to track employer compliance.
-The deadline for furnishing 2018 Form 1095-C, or Form 1095-B, if applicable, to employees and individuals is March 4, 2019 (extended from January 31, 2019).

-The deadline for filing copies of the 2018 Forms 1095-C, along with transmittal Form 1094-C (or copies of Forms 1095-B with transmittal Form 1094-B), if applicable, remains unchanged:

-If filing by paper, February 28, 2019.

-If filing electronically, April 1, 2019.

The extended due date applies automatically so employers do not need to make individual requests for the extension.