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 …
IRS
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ACA ReportingIRS
Draft IRS ACA Reporting Forms for 2017 Are Out, Transition Relief for Companies Is Over
by Robert Sheenby Robert SheenThe 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: …
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IRSPremium Tax Credit
The IRS Finalizes Regulations for ACA Premium Tax Credits
by Robert Sheenby Robert SheenThe 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 …
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Health Care CoverageIRS
IRS Memorandum Sheds Light on Taxability Of Benefits Paid by Self-Funded Health Plans
by Robert Sheenby Robert SheenMany 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 …
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ACA ComplianceIRS
IRS Still Moving Forward with ACA Compliance Enforcement for Employers
by Robert Sheenby Robert SheenThe IRS recently issued Notice 2017-38, which revealed the results of the Treasury Department’s review of all “significant tax regulations” per President Trump’s Executive Order 13789 issued in April 2017. …
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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, …
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Employee MisclassificationIRS
IRS Tax Documents Assist Decision In Classification Case
by Robert Sheenby Robert SheenWith 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 …
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ACA ComplianceIRS
What To Do When An IRS Letter Lands In Your Mailbox
by Robert Sheenby Robert SheenThe 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 …
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IRSMedicaid
As IRS Section 1332 Support Continues, Can States Reform Healthcare On Their Own?
by Robert Sheenby Robert SheenNow 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 …
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ACA ComplianceIRS
The IRS Audit Process Will Force Employers to Prove Their Case or Face Penalties
by Robert Sheenby Robert SheenPost 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 …
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IRSRegulationsReporting
IRS Clarifies De Minimis Error Safe Harbor For Information Return Penalties
by Robert Sheenby Robert SheenThe 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 …
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Affordable Care ActIRSReporting
IRS Commissioner Reports On ACA Stats For 2015
by Robert Sheenby Robert SheenWhile 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 …
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ACA ComplianceIRS
Understanding Anti-Discrimination: The IRS Issues Final Rule
by Robert Sheenby Robert SheenIn 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, …
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Affordable Care ActIRSRegulations
IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor
by Robert Sheenby Robert SheenThe 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 …
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IRSSmall Business Health Options Program (SHOP)
IRS Quick Update: Notice 2016-75
by Robert Sheenby Robert SheenIn 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. …
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Health Care CoverageIRS
The IRS’s Cost-of-Living Adjustments: An Infographic
by Robert Sheenby Robert SheenThe 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 …
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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 …
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IRSTemporary Nondiscrimination Relief
Temporary Nondiscrimination Relief Gets Another Year Extension By IRS
by Robert Sheenby Robert SheenAs 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 …
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Affordable Care ActIRS
How To Deal With An IRS Incorrect TIN Notification: The DO’s And DON’Ts
by Robert Sheenby Robert SheenWhen 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 …
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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 …
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ACA AuditACA ComplianceAffordable Care ActIRSPenalties
It’s Deadline Day! File Your ACA Forms or Face A Penalty
by Robert Sheenby Robert SheenWe’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. …
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Affordable Care ActIRS
Quick Update: Understanding Revenue Procedure 2016-24
by Robert Sheenby Robert SheenIn the April 18th edition of the Internal Revenue Bulletin, you will find “Revenue Procedure 2016-24,” a term that applies directly to annual health care percentage modifications under the Affordable …
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The 2015 tax year brought much added paperwork in the way of forms and letters for the everyday taxpayer. For most, this is the first year that they’re receiving some …
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Affordable Care ActApplicable Large Employer (ALE)IRS
5 Reasons Why ACA Reporting is So Difficult for Employers This Year
by Robert Sheenby Robert SheenFor many employers, this is their first year reporting employee health care coverage as part of the Affordable Care Act. Required employers include those that are ALEs,or Applicable Large Employers …
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Affordable Care ActHealth Care CoverageIRSRegulations
Tools for Estimating ACA Credits and Fees
by Robert Sheenby Robert SheenThe IRS has developed tools for individuals and employers to estimate their credits and payments related to the Affordable Care Act . The tools, available online, provide only an estimate …
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Affordable Care ActHealth Care CoverageIRS
Reporting Deadlines Extended
by Robert Sheenby Robert SheenThe IRS has extended by almost two months the due date for providing employees with Affordable Care Act information forms, and provided an extra three months for filing the required …
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Affordable Care ActHealth Care CoverageIRSTax Filings
About The New ACA Information Statements
by Robert Sheenby Robert SheenRecognizing that many individuals will receive new ACA information statements for the first time in 2016, the IRS issued a memo aimed at helping consumers understand the documents. The explanation …
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The IRS has issued Notice 2016-02 to provide information regarding the health coverage tax credit, or HCTC. The 14-page notice explains who can claim the HCTC, the amount of the …
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Affordable Care ActApplicable Large Employer (ALE)IRSPenalties
“Pay or Play” Penalties For 2015 and 2016
by Robert Sheenby Robert SheenThe IRS has announced the 2015 and 2016 “pay or play” penalties, adjusted for inflation, that may be imposed on employers who fail to comply with the Affordable Care Act’s …
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Tax Year 2015 ACA Assurance Testing System (AATS) will open for testing in early November for Information Returns that will be processed in 2016, the IRS announced. The testing is …
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The IRS sent letters this summer to some taxpayers who were issued a Form 1095-A, Health Insurance Marketplace Statement, showing that advance payments of the premium tax credit were paid …
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The Internal Revenue Service (IRS) issued a reminder that all employers that provide self-insured health coverage, must file an annual return reporting certain information for each employee they cover. If …
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Affordable Care ActIRS
IRS Offers ACA Webinars for Employers and Insurers
by Robert Sheenby Robert SheenThe Internal Revenue Service is offering a series of three webinars designed to help employers and insurance providers understand provisions of the Affordable Care Act. The webinars will be held …
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The changes to America’s health care delivery system introduced by the Affordable Care Act are causing some of the nation’s largest health insurance companies to explore merger talks with competitors. …
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Affordable Care ActApplicable Large Employer (ALE)IRS
IRS Explains Definition of ‘Large Employer’
by Robert Sheenby Robert SheenThe IRS has issued an explanation of how companies can determine if they are an ”applicable large employer” or ALE, and how that affects their obligations under the Affordable Care …
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RAND Corp. analysts who looked at the likely effects of eliminating the Affordable Care Act’s individual mandate determined that the likely result would be an increase in premiums and a …