The ACA electronic filing deadline for the 2023 tax year is April 1, 2024. Here’s everything you need to know about the approaching due date.
ACA Reporting
-
-
After a sharp fall in 2023, M&A activity is expected to rise in 2024. But ensuring ACA compliance during mergers can slip down the priority list of both target and …
-
We recently held a webinar regarding changes pertinent to the upcoming ACA reporting season. After receiving numerous questions from attendees during the session, we thought it best to compile and …
-
As 2024 approaches, now is the time to begin preparing for the 2023 ACA reporting requirements. To assist you with your ACA responsibilities, we’ve curated a list of some of …
-
The IRS recently released new Affordable Care Act (ACA) IRS forms for 2023. The now well-known “Employer Mandate” outlines employer responsibilities for ensuring employees, and their families, have access to …
-
The Affordable Care Act (ACA) has undergone recent developments that carry significant implications for employer ACA compliance and reporting requirements. One of the most notable changes is the resolution of …
-
ACA compliance has been a complex, time-consuming, and costly endeavor for employers across the country, and compliance isn’t made any easier by the fact that ACA requirements are dynamic and …
-
While the Affordable Care Act’s Employer Mandate is likely very well known (if not well loved) by employers, many are unaware of the ACA’s Rule of Parity, which offers some …
-
ACA Compliance
Classify Workers Correctly to Determine ALE Status and Avoid ACA Penalties
by Robert Sheenby Robert SheenClassifying workers correctly is critical for determining if the requirements of the ACA’s Employer Mandate apply to an organization. The reason? Worker classifications directly impact an employer’s Applicable Large Employer …
-
ACA ComplianceACA Penalties
Avoid These Compliance Triggers to Minimize ACA Penalty Risk
by Robert Sheenby Robert SheenIt’s no secret the IRS is ramping up ACA enforcement. With additional funding for improving its tax correspondence processing infrastructure, more staff than ever, and a renewed focus on compliance, …
-
The deadline for electronically filing ACA forms 1094-C and 1095-C for the 2022 tax year was March 31. Did you make the deadline? If you did, were all your submissions …
-
It’s true the 2022 ACA reporting season deadlines have passed, but that doesn’t mean it’s the end of the ACA compliance efforts and ACA penalties. As we’ve previously communicated, IRS …
-
ACA Full-Time: What is it and Why Does it Matter? What constitutes a full-time employee under the ACA? The answer is not as simple as it seems. And getting your …
-
Now that the IRS received an influx of resources, including $80 billion in funding and 87,000 new tax agents, employers should keep their eyes peeled for the ACA warning notice, …
-
ACA Deadline
California Individual Mandate ACA Furnishing Deadline is January 31
by Robert Sheenby Robert SheenWith the New Year well underway, organizations with operations in California should give special attention to the state’s Individual Mandate and its additional ACA reporting requirements. Employers offering self-funded healthcare …
-
It’s time to prepare ACA state filings for the 2022 tax year. Is your organization ready? As a reminder, on an annual basis, employers must file Forms 1094-C and 1095-C …
-
The arrival of a new year marks the time to begin preparing annual 1095-C filings with the IRS and select state governments. Fortunately for employers, there aren’t any new 1095-C …
-
Late last week, the IRS issued the final ACA reporting instructions for the 2022 tax year, which include both the 1094-C and 1095-C forms to be filed and furnished in …
-
ACA Compliance
What Employers Need to Know About the California Individual Mandate
by Robert Sheenby Robert SheenEmployers with operations in California should be familiar with the state’s Individual Mandate and the additional ACA reporting requirements, as they have been in effect since 2020. Still, organizations are …
-
Affordable Care Act
Employers Investing More in ICHRAs Poses ACA Coding Risk
by Robert Sheenby Robert SheenAs the number of available healthcare coverage options increases, more and more employers are turning to individual coverage health reimbursement arrangements (ICHRAs). A relatively new player in the market, ICHRAs …
-
ACA filing for the 2022 tax year is fast approaching. Employers with operations in Rhode Island should take note of the recent changes made regarding ACA filing and furnishing. Late …
-
As IRS enforcement of the ACA continues to ramp up, organizations would be wise to implement a monthly compliance process, if they haven’t already. Employers that implement a monthly ACA …
-
ACA Compliance
The Look-Back Measurement Method Can Prevent ACA Penalties
by Robert Sheenby Robert SheenDetermining the accurate full-time employee count during a calendar year is important for ACA compliance. Getting it wrong can lead to inaccurate annual information filings with the IRS and subsequently …
-
ACA Resource
Prepare for 2022 ACA Reporting With the ACA Essential Guide
by Chris Areyby Chris AreyThe ACA reporting season for the 2022 tax year is fast approaching and organizations must take the proper precautions to ensure an accurate and timely filing, void of penalty risk. …
-
ACA ComplianceACA Penalties
These Common Mistakes Can Result in ACA Penalties
by Robert Sheenby Robert SheenWithout the right resources, managing ACA compliance responsibilities can be time-consuming and difficult. There are many issues that can arise during the course of the year that can make employers’ …
-
ACA Penalties
These Industries are Most at Risk for ACA Penalties From the IRS
by Robert Sheenby Robert SheenThe home healthcare, staffing, restaurant, and construction industries are under fire from the IRS for failing to comply with the ACA. Organizations within these industries have been shocked to receive …
-
Last month the IRS published a proposed regulation that would amend the existing rule regarding employer-sponsored Minimum Essential Coverage (MEC) for family members of an employee. The proposed rule would …
-
ACA ComplianceAffordable Care Act
5 Common ACA Compliance Mistakes Restaurants Make
by Robert Sheenby Robert SheenOver 10 years after the ACA was first signed into law, the reporting requirements under the ACA’s Employer Mandate have proven challenging and time-consuming for most. But quick-service restaurants have …
-
ACA DeadlineAffordable Care Act
March 31 is the Deadline for E-Filing ACA Returns With the IRS
by Robert Sheenby Robert SheenToday, March 31, 2021, is the e-filing deadline for submitting ACA Forms 1094-C and 1095-C to the IRS for the 2022 tax year, as required by the ACA’s Employer Mandate. …
-
With the 2021 ACA reporting season coming to an end later this month, employers should turn their attention to ACA compliance for the 2022 tax year. A key component of …
-
ACA DeadlineACA ReportingAffordable Care Act
Deadline to Furnish ACA Form 1095-C is Today
by Robert Sheenby Robert SheenThe deadline for distributing the ACAS 1095-C forms to full-time employees is today, March 2. Did you make it? This deadline applies to Applicable Large Employers (ALEs), or employers with …
-
The IRS is experiencing a massive mail backlog of unprocessed documents first caused by COVID-19. Included in that backlog of notices are ACA penalty assessments. To help the situation, the …
-
ACA Compliance
AIRs Portal Downtime Could Prove Problematic for Employers
by Robert Sheenby Robert SheenOn December 5, the IRS closed production of the Affordable Care Act’s Information Returns (AIRs) portal to prepare for 2021 reporting year electronic filing submissions. The agency says that the …
-
Open enrollment for the 2022 plan year ends later this week but ACA signups are already hitting record new highs. Kaiser Health News cites a record-breaking 13.6 million Americans already …
-
ACA Deadline
State ACA Reporting and Furnishing Deadlines for Employers
by Robert Sheenby Robert SheenEmployers ringing in the New Year should remember that several states’ have additional ACA filing and furnishing obligations that must be completed for the 2021tax year. To help you get …
-
On December 9, 2021, the IRS published the final ACA reporting instructions for the 2021 tax year, including the final 1094-C and 1095-C forms. As expected, the forms and instructions …
-
Affordable Care Act
Remember, No Good Faith Transition Relief This Year
by Robert Sheenby Robert SheenWith the New Year just a few short weeks out, employers should remember that 2020 was the final year for Good Faith Transition Relief. That means filing late or inaccurate …
-
ACA ComplianceACA Reporting
Have a Handle on ACA Compliance? Let ACA Vitals Decide
by Chris Areyby Chris AreyACA reporting is heading into its seventh year, yet, many organizations still face significant obstacles to meeting the requirements of the ACA’s Employer Mandate. Under the ACA’s Employer Mandate, employers …
-
Every year employers must file their ACA information via forms 1094-C and 1095-C to the IRS and any state government. For the last seven years, there have been two methods …
-
With the end of the year approaching quickly, ACA compliance and the subsequent ACA reporting are ramping up. Employers preparing for IRS and state filing requirements should consider the importance …
-
On October 2, 2020, the IRS issued Notice 2020-76, extending the deadline for employers to furnish ACA Forms 1095-C to applicable full-time employees from January 31, 2021, to March 2, …
-
The IRS recently announced the ACA affordability percentage for the 2022 tax year and with that information comes speculation around the Employer Mandate’s IRC Section 4980H(a) and (b) penalty amounts …
-
ACA Compliance
3 Resources To Assist Employers With 2021 ACA Reporting
by Robert Sheenby Robert SheenThe end of the 2021 tax year and the subsequent tax season are approaching rapidly. What precautions is your organization taking to ensure a smooth ACA reporting experience this year? …
-
For the 2022 tax year, the ACA affordability threshold will decrease to 9.61%. According to IRS Revenue Procedure 2021-36 all health plans offered by employers beginning January 1, 2022, will …
-
Affordable Care Act
ACA Reporting to Grow in Complexity Due to State Individual Mandates
by Robert Sheenby Robert SheenACA reporting is complex and the process has only grown more challenging as states continue to enact additional state-level ACA reporting requirements as a function of their Individual Mandates. But …
-
ACA Compliance
ACA Navigators to Receive Additional Funding For 2022
by Robert Sheenby Robert SheenThe Biden administration is making sure that the upcoming open enrollment period is a successful one. Most recently the administration announced that it will be increasing funding for ACA navigators. …
-
Earlier this year the IRS released final regulations regarding the relationship between Employer Shared Responsibility Provisions (ESRP) and individual coverage Health Reimbursement Arrangements (HRAs). And then they were withdrawn by …
-
Affordable Care Act
IRS Issues Draft ACA Reporting Instructions for 2021
by Robert Sheenby Robert SheenThe IRS recently released its draft 1094-C and 1095-C instructions for the 2021 tax year. We’ve identified the changes below. It appears that Form 1094-C will remain the same, but …
-
ACA ReportingAffordable Care Act
The IRS’s Forms 1095 For the ACA Explained
by Robert Sheenby Robert SheenA number of changes were introduced to the health insurance marketplace with the passage of the ACA in 2010. From different reporting forms and health insurance plan requirements to the …
-
4 min read It is a sign of good government that agencies tasked with enforcing complex statutes increase efficiency over time. When the Patient Protection and Affordable Care Act (ACA) …