More Suggestions on Responding to IRS Letter 226J

More Suggestions on Responding to IRS Letter 226J

Nov 28 The IRS has released the first round of letters to Applicable Large Employers (ALEs), companies with 50 or more full-time or full-time equivalent employees, it believes were are subject to Read More
Are Your Clients Ready for the IRS’s ACA Penalty Assessments?

Are Your Clients Ready for the IRS’s ACA Penalty Assessments?

Nov 27 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 Read More
The IRS is Sending Million Dollar ACA Penalty Notices to Employers

The IRS is Sending Million Dollar ACA Penalty Notices to Employers

Nov 15 The letter no one wants is now in the mail! (click the image for the full letter) Applicable Large Employers (ALEs), employers with 50 or more full-time or full-time equivalent Read More
Will the IRS Extend ACA Reporting Deadlines?

Will the IRS Extend ACA Reporting Deadlines?

Nov 14 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 Read More
How to Respond to IRS Letter 226J About Affordable Care Act Penalties

How to Respond to IRS Letter 226J About Affordable Care Act Penalties

Nov 13 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, Read More
The IRS Releases Sample of Letter 226J

The IRS Releases Sample of Letter 226J

Nov 9 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 Read More
The IRS Will Start Issuing ACA Penalty Notices in 2017

The IRS Will Start Issuing ACA Penalty Notices in 2017

Nov 6 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 Read More
Free Resources from the IRS to Answer Your Questions on the ACA

Free Resources from the IRS to Answer Your Questions on the ACA

Nov 2 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 Read More
Update on IRS Penalties for Employers That Fail to File ACA-Mandated Information

Update on IRS Penalties for Employers That Fail to File ACA-Mandated Information

Nov 1 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 Read More
Has the ACA Bettered the Language Barriers in Forms Reporting? We Asked a Professional

Has the ACA Bettered the Language Barriers in Forms Reporting? We Asked a Professional

Oct 25 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 Read More
IRS Roundup: What You Need to Know About the IRS and the Affordable Care Act

IRS Roundup: What You Need to Know About the IRS and the Affordable Care Act

Oct 24 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 Read More
IRS To Enforce Individual Mandate for 2017 Tax Returns

IRS To Enforce Individual Mandate for 2017 Tax Returns

Oct 19 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 Read More
IRS Issues Instructions for Use of New ACA Forms for 2017 Tax Year [NEW REPORT]

IRS Issues Instructions for Use of New ACA Forms for 2017 Tax Year [NEW REPORT]

Oct 10 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 Read More
IRS Issues New ACA Forms for 2017 Tax Year [NEW REPORT]

IRS Issues New ACA Forms for 2017 Tax Year [NEW REPORT]

Oct 3 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 Read More
IRS Extends Voluntary Reporting Of Catastrophic Coverage

IRS Extends Voluntary Reporting Of Catastrophic Coverage

Sep 21 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 Read More
IRS Reveals 2017 Average National Monthly Premium Needed to Calculate Individual Taxpayer Penalties for ACA

IRS Reveals 2017 Average National Monthly Premium Needed to Calculate Individual Taxpayer Penalties for ACA

Aug 30 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 Read More
Everything You Want To Know About Virtual IRS Appeals and the ACA

Everything You Want To Know About Virtual IRS Appeals and the ACA

Aug 28 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 Read More
Independent of the Bipartisan Effort to Reform Healthcare, the IRS Continues to Enforce the ACA

Independent of the Bipartisan Effort to Reform Healthcare, the IRS Continues to Enforce the ACA

Aug 24 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 Read More
Another Sign That the IRS is Moving Forward with Enforcing ACA Compliance

Another Sign That the IRS is Moving Forward with Enforcing ACA Compliance

Aug 21 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 Read More
2 Reasons Why Employers Should Care About the IRS Individual Mandate Report

2 Reasons Why Employers Should Care About the IRS Individual Mandate Report

Aug 9 A recently released report from the Treasury Inspector General for Tax Administration (TIGTA) on IRS notifications in regards to the ACA’s individual mandate has potential implications for employers. TIGTA, at Read More
Draft IRS ACA Reporting Forms for 2017 Are Out, Transition Relief for Companies Is Over

Draft IRS ACA Reporting Forms for 2017 Are Out, Transition Relief for Companies Is Over

Aug 7 The IRS has released drafts of forms 1094-C and 1095-C for use in reporting ACA-mandated information for the 2017 tax year. You can view the draft forms at these links: Read More
The IRS Finalizes Regulations for ACA Premium Tax Credits

The IRS Finalizes Regulations for ACA Premium Tax Credits

Jul 26 The IRS on July 24 finalized regulations for the use of premium tax credits. These are the tax credits provided by the Affordable Care Act (ACA) to help lower income Read More
IRS Memorandum Sheds Light on Taxability Of Benefits Paid by Self-Funded Health Plans

IRS Memorandum Sheds Light on Taxability Of Benefits Paid by Self-Funded Health Plans

Jul 13 Many employers which provide self-funded healthcare for their employees have taken to covering the cost of employee participation in associated wellness plans. It’s a practice the IRS is well aware Read More
IRS Still Moving Forward with ACA Compliance Enforcement for Employers

IRS Still Moving Forward with ACA Compliance Enforcement for Employers

Jul 10 The IRS recently issued Notice 2017-38, which revealed the results of the Treasury Departments review of all “significant tax regulations” per President Trump’s Executive Order 13789 issued in April 2017. Read More
PCORI Fee Deadline is Coming up on July 31

PCORI Fee Deadline is Coming up on July 31

Jun 19 For those employers with self-insured plans, the annual filing and fee payments deadline is coming up on the Patient-Centered Outcomes Research Institute (PCORI) fee on July 31. IRS Form 720, Read More
IRS Tax Documents Assist Decision In Classification Case

IRS Tax Documents Assist Decision In Classification Case

May 2 With misclassification suits becoming more and more frequent, the latest case suggests that tax returns might be subject to mandatory disclosure in resolving classification issues. In a recent case, Mescalero Read More
What To Do When An IRS Letter Lands In Your Mailbox

What To Do When An IRS Letter Lands In Your Mailbox

Apr 25 The dreaded IRS letter. It can mean anything or nothing at all. As tax season for the 2016 tax year is coming to an end for most, so begins the Read More
As IRS Section 1332 Support Continues, Can States Reform Healthcare On Their Own?

As IRS Section 1332 Support Continues, Can States Reform Healthcare On Their Own?

Apr 3 Now that the vote on the American Healthcare Act has been withdrawn, and its return highly unlikely, it would appear that the Affordable Care Act will continue to be the Read More
The IRS Audit Process Will Force Employers to Prove Their Case or Face Penalties

The IRS Audit Process Will Force Employers to Prove Their Case or Face Penalties

Feb 13 Post election, in December of 2016, the Internal Revenue Service (IRS) began to issue out notices to employers who may have failed to comply with the ACA. These notices appear Read More
IRS Clarifies De Minimis Error Safe Harbor For Information Return Penalties

IRS Clarifies De Minimis Error Safe Harbor For Information Return Penalties

Feb 1 The IRS recently published Notice 2017-9 announcing its intent to issue regulations regarding the obligation of a payor (e.g., employer) to document payee (e.g., employee) elections for application of the Read More
IRS Commissioner Reports On ACA Stats For 2015

IRS Commissioner Reports On ACA Stats For 2015

Jan 26 While we are getting our information in order for the 2016 tax year, we received some clarity on the previous year from the IRS. The IRS’s Commissioner John Koskinen has Read More
Understanding Anti-Discrimination: The IRS Issues Final Rule

Understanding Anti-Discrimination: The IRS Issues Final Rule

Jan 25 In the final rule from the Department of Health and Human Services (HHS) on Section 1557 of the Affordable Care Act, which prohibits discrimination on the basis of race, color, Read More
IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor

IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor

Jan 12 The IRS has provided clarity with regard to what qualifies as an “intentional or reckless disregard of facts” by employees when it comes to seeking shelter under the employee Premium Read More
IRS Quick Update: Notice 2016-75

IRS Quick Update: Notice 2016-75

Jan 11 In a short update to Notice 2016-75 under Section 45R of theInternal Revenue Code, the IRS has shed some light on how small businesses can seek relief in unique circumstances. Read More
The IRS’s Cost-of-Living Adjustments: An Infographic

The IRS’s Cost-of-Living Adjustments: An Infographic

Dec 28 The 2016 calendar year is closing out, and with it comes a variety of healthcare care related fee adjustments happening for 2017. The ACA Times has revealed the amounts we Read More
IRS Releases New ACA Adjusted Fees For 2017

IRS Releases New ACA Adjusted Fees For 2017

Dec 22 The IRS has released its adjusted figures for certain fees coming into the new year. The Patient-Centered Outcomes Research Institute (PCORI) fee being one of them. The fee was started Read More
Temporary Nondiscrimination Relief Gets Another Year Extension By IRS

Temporary Nondiscrimination Relief Gets Another Year Extension By IRS

Oct 27 As Closed Defined Benefit Plans are still being worked out rules-wise, the IRS has provided an extension to an important aspect of qualified plans. In a notice released toward the Read More
How To Deal With An IRS Incorrect TIN Notification: The DO’s And DON’Ts

How To Deal With An IRS Incorrect TIN Notification: The DO’s And DON’Ts

Oct 19 When it comes to employee TINs, some errors seem inevitable, but they don’t always mean what they seem. As an Applicable Large Employer (ALE), it is your duty in accordance Read More
The IRS Can’t Phone Home

The IRS Can’t Phone Home

Jul 5 For those thinking that the IRS may come a’calling, that won’t be happening anymore…at least when it comes to initial contact. In a memo dated May 20, 2016, phone calls Read More
It’s Deadline Day! File Your ACA Forms or Face A Penalty

It’s Deadline Day! File Your ACA Forms or Face A Penalty

Jun 30 We’ve finally reached this point. Today (June 30) marks that day that all Applicable Large Employers (ALEs) with 50 or more full-time equivalents must electronically file forms 1094-C and 1095-C. Read More