IRS

3 minute read: We recently hosted a webinar on the growing number of states requiring ACA reporting in addition to federal filing with the IRS. With the 2020 tax year…

3 minute read: A federal court recently invalidated significant parts of a Trump administration rule affecting the Affordable Care Act (ACA). What this decision means and how it could impact…

3 minute read: Biden’s American Rescue Plan (ARP) has reshaped the way Americans receive and qualify for healthcare coverage, including COBRA. Before diving into the specifics of how the ARP…

3 minute read: If you found yourself in a situation where you received receipt of your ACA information returns for 2020 with a status of “Accepted with Errors,” you’re not…

3 minute read: The Biden administration is once again finding ways to bolster the Affordable Care Act. This time the advancement comes in the form of ACA subsidies and the…

3 minute read: The latest ACA advancement to be introduced by the Biden administration comes via the American Rescue Plan and applies to the use of Advanced Payments of Premium…

1 minute read: On April 9, 2020, the IRS issued Notice 2020-23 to provide relief relating to certain deadlines for taxpayers in response to the March 13, 2020 emergency declaration…

3 minute read: In the midst of theCOVID-19 crisis, the IRS announced that it will pare back operations to focus on “mission-critical” functions. In a notice updated on April 1,…

3 minute read: The IRS recently issued an extension for furnishing forms 1094-C and 1095-C to employees for the 2019 tax year, which extends the schedule employers need to keep…

3 minute read:  No organization is immune to the responsibilities of the Affordable Care Act, as a Texas County recently discovered. Galveston County, Texas, received an IRS Letter 972CG penalty…

3 minute read: I frequently meet with insurance brokers, CPAs and business owners who are interested in the latest on the IRS’s efforts to enforce the Affordable Care Act. In…

3 minute read: The IRS has started issuing new penalty notices to employers that failed to file forms 1094-C and 1095-C with the federal tax agency or furnish 1095-C forms…

3 minute read: The government shutdown is over, at least for now, and IRS staff is back to work. Get ready for a flurry of Affordable Care Act penalty notices…

2 minute read: The IRS has started to issue a new round of ACA penalties that focus on failure to distribute 1095-C forms to employees and to file 1094-C and…

3 minute read:  As November approaches, two things seem certain. There will be national midterm elections and the IRS will begin issuing Letter 226J penalty notices to employers identified as…

2 minute read:  The IRS has increased the penalties for employers that do not comply with the ACA for the 2018 tax year. Here’s a rundown of the changes: 4980H…

2 minute read: It’s September. For many of our friends and neighbors, it’s a time to reflect on our summer as we transition into cooler fall weather. For those of…

Originally published on July 26, 2018, in Accounting Today. 3 minute read: The Internal Revenue Service now has the data to begin the analysis to calculate the potential penalties for…

4 minute read: The Affordable Care Act (ACA) was first enacted in 2010 under the Obama administration. A component of the ACA, the Employer Shared Responsibility Provision (ESRP), also referred…

2 minute read: The IRS is proposing regulations that would expand mandatory electronic filings for most employers by aggregating the number of total information returns they submit to the federal…

3 minute read: The evidence continues to mount that the employer mandate in the Affordable Care Act is not going away soon, if ever. And the process of the IRS…

4 minute read: Originally published on April 18,2018, in Accounting Today. In most organizations, the task of ensuring compliance with the Affordable Care Act lies with the Human Resources team.…

4 minute read: Originally published on April 4, 2018 in Employee Benefit Adviser. Advisers beware: Affordable Care Act penalties are being assessed by the IRS and the enforcement process is…

2 minute read:   With the deadline for providing Affordable Care Act (ACA) information filings to the IRS fast approaching, don’t forget about the late filing penalties under IRS Section 6721.…

3 minute read:   The April 2 deadline is fast approaching for filing information related to the Affordable Care Act (ACA). Credit to your organization if it’s putting the finishing touches…

As we look forward to the start of spring, all signs are pointing to the IRS continuing its efforts to enforce the Affordable Care Act (ACA). A new wave of…

You would think it would go without saying, but let’s say it. The Affordable Care Act (ACA) and its employer mandate have tax and financial implications. And that means it’s…

If you haven’t filed your taxes yet, then you may have avoided having to file an amended return if you received a corrected 2017 Form 1095-A for the Healthcare Marketplace.…

The approval of tax reform legislation by Congress may ultimately have an impact on the Affordable Care Act (ACA) in 2019. That’s when the legislation essentially repeals the individual mandate…

We are less than 30 days away from the first deadlines for filing Affordable Care Act (ACA) information for the 2017 tax year. How time flies! Here is who must…

As the saying goes, I have some good news and some bad news. For the good news, the IRS has extended good faith relief for information-reporting requirements for the Affordable…

The IRS has extended the 2018 deadlines to provide 2017 health coverage information forms to individuals as required by Affordable Care Act (ACA). The information was included in a new…

During 2017, the IRS has steadfastly avoided being swayed by the political breezes, even when they seemed to reach hurricane-level velocity. When President Trump and Republicans in Congress were readying…

Originally published on November 21, 2017 in “Accounting Today”  The IRS has been sending signals since the summer that it will be enforcing the Affordable Care Act’s employer mandate. Those signals…

Are deadline extensions and reinstatement of penalty relief for the Affordable Care Act (ACA) in the cards for employers? The IRS Information Reporting Program Advisory Committee (IRPAC) has recommended the…

It’s the letter no one wants to receive. However, its coming and you need to be prepared just in case your company or client receives it. It is Letter 226J,…

As we reported this week, the IRS has issued guidance on its plans to issue penalty notices by the end of this year to Applicable Large Employers (ALEs) it believes…

As we reported earlier this year, indications from the IRS pointed to the agency sending enforcement notices by December 2017 to businesses with 50 or more employees – referred to…

The IRS provides a variety of resources to assist organizations in better understanding the requirements of the Affordable Care Act (ACA). Here’s are some that we hope you will find…

You can expect to see a slight increase in IRS penalties related to the Affordable Care Act for the 2018 and 2019 tax filing seasons, which reflect reporting for the…

Over the last few years, pocket neighborhoods of Spanish speaking individuals have produced significant language barriers when it comes to the Affordable Care Act (ACA). Many whose primary language is…

Over the past few months, the IRS has been moving forward with preparations for the ACA-mandated filings for the 2017 tax reporting year. Here’s what we know so far about…

In yet another sign that the IRS will be enforcing the Affordable Care Act, the IRS’s ACA Information Center for Taxpaying Professionals is providing updated guidance that it will require…

The IRS has followed the release of the 2017 forms for filing Affordable Care Act (ACA)-mandated information with the IRS for the 2017 tax year with the instructions for the…

The IRS continues to prepare for employers to file ACA-mandated information with the IRS for the 2017 tax year. The IRS is now making the new Form 1094-C and Form…

The IRS released Notice 2017-41 last month, informing health insurance issuers of further guidance surrounding the reporting of catastrophic plan coverage acquired through the ACA’s Health Insurance Marketplace. It’s the…

The IRS has issued the 2017 Average National Monthly Premium of bronze-level qualified health plans for both individuals and shared responsibility families of five or more. That figure is the…

For many Americans, tax appeals are a daunting process. Every year, the IRS Office of Appeals sees over 100,000 tax appeals travel across their desks from those taxpayers challenging the…

In the wake of Congress being unable to pass ACA repeal and replace legislation, a bipartisan effort seems to be growing around improving the ACA. Indeed, a majority of Americans…

Letters released this month by the IRS continue to point to the agency moving forward with its plans to enforce the Affordable Care Act (ACA). The IRS has indicated it…