2 minute read: Good-faith transition relief. It’s a term used by the IRS for waiving ACA penalty assessments on employers that can provide legitimate reasons for missing a reporting requirement …
ACA Reporting
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Affordable Care Act
Why IRS Enforcement of the ACA Will Become More Severe in 2020
by Robert Sheenby Robert Sheen3 minute read: The beginning of a new decade is not the only thing certain in 2020 – employers can also count on the IRS continuing to step up its …
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ACA ComplianceACA ReportingAffordable Care Act
New Jersey’s ABC Test Could Impact ACA Compliance and Reporting
by Robert Sheenby Robert Sheen3 minute read: The state of New Jersey has introduced SB 4204 which would change the way employers classify their workforce. SB 4204 will require employers to administer the ABC …
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ACA ComplianceAffordable Care Act
Five ACA Resources to Help with Compliance in 2020
by Robert Sheenby Robert Sheen1 minute read: As many of you start to focus on what 2020 has in store for your organization, we’re sure ACA compliance is on your list. As employers start …
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ACA ReportingAffordable Care Act
Tis’ The Season to Check the Health of Your Data for ACA Reporting
by John Fordby John Ford5 minute read: The end of 2019 is here and that means that if you haven’t done so already, it’s time to get your Affordable Care Act (ACA) filings in …
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Affordable Care Act
ACA to Remain Following Fifth Circuit Court Decision
by Robert Sheenby Robert Sheen2 minute read: On Wednesday of this week, the Fifth Circuit handed down a ruling regarding the constitutionality of the Affordable Care Act. The majority of the ACA will continue …
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ACA ReportingAffordable Care Act
New Jersey Issues Updated State-Level ACA Reporting Guidance
by Robert Sheenby Robert Sheen2 minute read: The state of New Jersey has issued updated guidance regarding state-level ACA health insurance reporting. Employers, regardless of size, who offer Minimum Essential Coverage to employees will …
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Affordable Care ActHealth Care Coverage
Proposed Health Care Data Transparency Rule Complements ACA
by Robert Sheenby Robert Sheen2 minute read: As the Affordable Care Act’s Employer Mandate moves into its sixth year of operation, federal agencies have proposed a rule to promote better health care cost transparency. …
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3 minute read: The Trump Administration has proposed changing the methodology for calculating the federal poverty level (FPL). As expected, it could have serious implications for the Affordable Care Act. …
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ACA ReportingAffordable Care ActIRS
Employers Need to Meet IRS Deadlines to Avoid ACA Penalties
by Robert Sheenby Robert Sheen3 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 …
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ACA ReportingAffordable Care Act
IRS Issues Deadline Extension for Furnishing Forms 1095-C
by Robert Sheenby Robert Sheen2 minute read: To kick off the holiday season, the IRS has issued Notice 2019-63, which extends the deadline for distributing Form 1095-C for the 2019 tax year to full-time …
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Affordable Care Act
What to Expect from California’s Individual Mandate
by Robert Sheenby Robert Sheen2 minute read: The new year is almost upon us and a number of states including California will have their statewide Individual Mandate take effect. Come January 1, 2020 employers …
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Affordable Care Act
Letter 972CG Late Penalty Assessments are Becoming More Difficult to Repeal
by Robert Sheenby Robert Sheen2 minute read: Earlier this year, the IRS started issuing in Letter 972CG ACA penalties to employers who filed their annual ACA information past IRS deadlines established in IRC Section …
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Affordable Care Act
IRS Issues Draft 2019 ACA Forms 1094-C and 1095-C and Reporting Instructions
by Robert Sheenby Robert SheenThe IRS has released draft versions of Forms 1094-C and 1095-C, as well as the reporting instructions for the 2019 tax year, to be filed and furnished in 2020. You …
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3 minute read: In 2020, the affordability threshold will decrease. What that means is that employers will need to contribute more to their employee’s health coverage in order to fall …
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Affordable Care Act
Incorrect ITINs Will Cause Havoc With ACA Compliance
by Robert Sheenby Robert Sheen3 minute read: Earlier this year the IRS announced that roughly 2 million ITINs are set to expire December 31. This could pose a significant risk to your organization’s Affordable …
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3 minute read: A legal case focused on transgender rights may provide further validation of the protections offered by Section 1557 of the Affordable Care Act. The case involves Sergeant …
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Affordable Care Act
California Bill AB5 May Impact Your ACA Compliance Process
by Robert Sheenby Robert Sheen2 minute read: California employers may have another level of complexity coming their way in regards to compliance with the Affordable Care Act. The California state legislature has passed a …
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Affordable Care Act
Proposed IRS Regs Provide Guidance on ACA and HRAs
by Robert Sheenby Robert Sheen3 minute read: Recently proposed IRS regulations provide guidance to employers who want to start offering individual coverage HRAs in place of offers of health coverage under the Affordable Care …
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ACA ComplianceACA ReportingAffordable Care Act
New Jersey Issues Employer Guidance on State-Level ACA Reporting
by Robert Sheenby Robert Sheen2 minute read: The state of New Jersey has issued information for employers on third-party reporting to support the state’s new individual healthcare mandate. Employers with employees in New Jersey …
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Affordable Care Act
IRS Penalties Create A Hurricane for Businesses Failing to Comply with the ACA
by Robert Sheenby Robert Sheen5 minute read: It’s a hurricane of IRS penalty notices. And it’s no laughing matter for businesses that have failed to comply with the Affordable Care Act. The IRS is …
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ACA ComplianceAffordable Care Act
IRS Enforcement of the ACA Not Wavering
by Robert Sheenby Robert Sheen2 minute read: Give the IRS credit. It is consistent. In 2017, the federal tax agency responded to an inquiry about waivers to business owners from U.S. House Representative Bill …
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ACA ReportingAffordable Care Act
IRS Issues Letter 972CG to Employers for Late ACA Filings
by Robert Sheenby Robert Sheen4 minute read: The IRS has started to issue ACA penalties to employers who have filed their annual ACA information past IRS deadlines, another sign that the IRS is further …
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Affordable Care Act
Expect Increased IRS Penalties in 2019 for ACA Non-Compliance
by Robert Sheenby Robert Sheen3 minute read: Expect to see increased ACA penalties for employers that do not comply with the ACA in the 2019 tax year. Here’s how the anticipated ACA penalties for …
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ACA ReportingAffordable Care Act
The IRS Is Intensifying ACA Enforcement Efforts
by Robert Sheenby Robert Sheen3 minute read: Originally published on August 7, 2019, in Accounting Today. Accountants may see some of their business clients getting caught up this summer in IRS activities to enforce …
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Affordable Care Act
A Late Response to IRS Letter 226J Could Cost You
by Robert Sheenby Robert Sheen2 minute read: Responding to IRS Letter 226J penalty assessments quickly and accurately is very important for a number of reasons, including reducing or eliminating the proposed penalty assessment. But …
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3 minute read: We hosted an ACA webinar in July with HR.com, and were asked several questions relating to the ACA’s Employer Mandate. The answers are now available on our …
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Affordable Care Act
Penalties for the 2019 Tax Year Are Higher Than Ever
by Robert Sheenby Robert Sheen3 minute read: The IRS has not let up with issuing ACA penalties to employers identified as having failed to comply with the law’s Employer Mandate. As in past tax …
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3 minute read: We can expect a blizzard of ACA notices and penalty assessments being sent by the IRS as the tax agency steps up its ACA enforcement activities with …
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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 …
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ACA ComplianceAffordable Care Act
Expect Greater Scrutiny and Audits from IRS Staff on ACA Compliance
by Robert Sheenby Robert Sheen4 minute read: The IRS staff is preparing a new round of IRC 4980H penalty assessments to be issued to employers for failing to comply with the requirements of the …
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ACA ComplianceAffordable Care Act
IRS Limiting Length of Extensions for Responding to ACA Penalty Notices
by Robert Sheenby Robert Sheen3 minute read: Employers that receive IRS Letter 226J penalty notice for failing to comply with the Affordable Care Act will be limited to one 30-day extension for each IRS …
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Affordable Care ActIRS 226J/226-J
How to Respond to IRS Letter 226J for the 2017 Tax Year [INFOGRAPHIC]
by Robert Sheenby Robert Sheen1 minute read: IRS staff has confirmed that the IRS is issuing Letter 226J penalty notices for the 2017 tax year. If you receive a Letter 226J, you have 30 …
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Affordable Care ActIRS 226J/226-J
Get Ready! More IRS Letter 226J ACA Penalty Notices Are on the Way [UPDATE]
by Robert Sheenby Robert Sheen3 minute read: IRS staff is expected to start issuing Affordable Care Act penalty notices for the 2017 tax year this month. This comes on the heels of a final …
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Affordable Care ActHealth Care CoverageIRS
IRS Sending New ACA Penalty Notices for 2017 Tax Year
by Robert Sheenby Robert Sheen3 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 …
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ACA ComplianceAffordable Care Act
Employers Must Correct IRS Errors to Avoid ACA Penalties
by Robert Sheenby Robert Sheen3 minute read: We are all human, including the people who work at the IRS. And like all of us, sometimes they make mistakes. The only difference is that errors …
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Affordable Care ActHealth Care Coverage
CMS Report Shows a Stabilizing ACA
by Robert Sheenby Robert Sheen2 minute read: The latest open enrollment period report for the 2019 plan year from the Centers for Medicare and Medicaid Services’ (CMS) shows that the Affordable Care Act marketplace …
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ACA ComplianceAffordable Care Act
Reduce IRS Penalty Risk With Monthly ACA Compliance
by Robert Sheenby Robert Sheen3 minute read: At this point, if your organization has achieved success in complying with the Affordable Care Act, you understand that it’s no simple undertaking. Chances are, your organization …
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ACA ComplianceAffordable Care Act
ACA Compliance Still Confusing to Employers
by Robert Sheenby Robert Sheen5 minute read: Employers are still confused with how to comply with the Affordable Care Act, and continue to hide their heads in the sand about the real risk of …
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ACA ReportingAffordable Care ActIRS 226J/226-J
Avoid These ACA Filing Errors to Prevent Getting IRS Letter 226J Year After Year
by Robert Sheenby Robert Sheen5 minute read: They say insanity is doing the same thing over and over expecting different results. We’ve seen many employers repeatedly make the same mistakes in their annual ACA …
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ACA ComplianceAffordable Care Act
The Signs Were There for IRS’s ACA Enforcement
by Robert Sheenby Robert Sheen5 minute read: One of the more complex sections of the Affordable Care Act is the Employer Shared Responsibility Provisions, also referred to as the ACA Employer Mandate. Under the …
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ACA ComplianceAffordable Care Act
Hey Accountants, the IRS is Coming for Your Clients
by Robert Sheenby Robert Sheen3 minute read: Originally published on March 6, 2018, in Accounting Today. Lost amid the confusion of the federal government shutdown this year was a new set of penalties the …
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ACA ReportingAffordable Care Act
Mark These 2019 Dates for 2018 ACA Reporting [UPDATE]
by Robert Sheenby Robert Sheen5 minute read: Every year, the IRS requires employers to submit important ACA information to the agency and their employees. Here are some important dates to keep in mind for …
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ACA ReportingAffordable Care ActIRS
With IRS Staff Back, Expect A Flurry of ACA Penalty Notices
by Robert Sheenby Robert Sheen3 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 …
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ACA ComplianceIRS
The IRS is Issuing Penalties for Not Providing 1095-C Forms by IRS Deadlines [UPDATE]
by Robert Sheenby Robert Sheen2 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 …
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Affordable Care Act
Latest Court Ruling Will Not Stop ACA Enforcement
by Robert Sheenby Robert Sheen3 minute read: Here we go again. Another attack on the Affordable Care Act that will cause employers to think that the law and its Employer Mandate to provide health …
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ACA ReportingAffordable Care Act
IRS EXTENDS ACA FURNISHING DEADLINE FOR 1095-C FORMS AND GOOD-FAITH TRANSITION RELIEF FOR 2018 TAX YEAR
by Robert Sheenby Robert Sheen3 minute read: In what has become an annual rite, the IRS has extended the deadline for distributing Form 1095-C for the 2018 tax year to full-time employees as required …
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ACA ReportingAffordable Care Act
ACA Reporting Requirements [UPDATE]
by Robert Sheenby Robert Sheen7 minute read: It’s always interesting to look back and see how regulation develops. The Affordable Care Act (ACA) is no exception. I wrote a five-part series about the ACA …
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Affordable Care ActHealth Insurance Marketplace
More Insurers Will Participate in the ACA Marketplace in 2019
by Robert Sheenby Robert Sheen3 minute read: It was predicted that the health insurance marketplace would be turned upside down with the individual mandate penalty effectively reduced to $0 beginning January 1,2019. However, that …
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ACA ReportingAffordable Care Act
IRS ISSUES ACA 2018 FORMS 1094-C AND 1095-C, INSTRUCTIONS, AND 226J FOR 2016
by Robert Sheenby Robert Sheen1 minute read: The IRS has released the final 1094/1095-C schedules and reporting instructions for the 2018 tax year, to be filed and furnished in 2019. You can find the …