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 …
Applicable Large Employer (ALE)
-
-
Summer is upon us and with it a number of annoyances. Mosquitos. Road construction. And those pesky Affordable Care Act (ACA) compliance responsibilities that tend to slip during summer months …
-
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 …
-
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 …
-
ACA Compliance
Owners of Multiple Small Businesses May Need to Comply with the ACA
by Robert Sheenby Robert SheenUnderstanding the details of the employer-shared responsibility provisions under the ACA can be challenging, especially as the IRS continues to issue penalties for non-compliance. One of the first steps is …
-
ACA Compliance
ACA Affordability Drops to Historic Low for 2023 Tax Year
by Robert Sheenby Robert SheenLast week the IRS announced the affordability percentage for Premium Tax Credits (PTCs) and employee contributions for employer-sponsored health coverage. In IRS Rev. Proc 2022-34, the agency makes clear that …
-
The words “summer” and “vacation” often go together. Applicable Large Employers (ALEs) should note that even though their ACA filing responsibilities have likely been satisfied due to the deadlines in …
-
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 …
-
Affordable Care Act
Special Enrollment Period Doubles Enrollees, Final Month Approaches
by Robert Sheenby Robert SheenIn June, the ACA’s special enrollment period garnered 1 million sign-ups through the federal health exchange, HealthCare.gov. A month later and the number of enrollees has doubled. On July 14, …
-
3 min read The Supreme Court case in which the Justices consider whether the Affordable Care Act is unconstitutional without the Individual Mandate will see a judicial decision any day …
-
The IRS announced that there is no statute of limitations for ACA penalties. What does that mean exactly? Simply put, it means that the ACA non-compliance penalties for any reporting …
-
ACA ComplianceACA DeadlineACA Reporting
ACA State Reporting Deadline for California is May 31
by Robert Sheenby Robert SheenMay 31 is the deadline for self-insured employers and health insurance carriers to submit applicable ACA information to the California Franchise Tax Board (FTB) for the 2020 tax year. The …
-
ACA ComplianceAffordable Care ActIRS
Biden Seeks to Make PTC Eligibility Expansion Permanent
by Robert Sheenby Robert Sheen3 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 …
-
ACA ComplianceAffordable Care ActIRS
IRS Suspends Excess Repayment of APTCs for 2020 Tax Year
by Robert Sheenby Robert Sheen3 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 …
-
Affordable Care Act
IRS Experiences Paper Mail Backlog, Employers Should E-file ACA Returns
by Robert Sheenby Robert Sheen3 minute read: The COVID-19 pandemic created hardships for everyone and everything, including the IRS. On numerous occasions, the agency announced a significant backlog in processing paper returns. As of …
-
3 minute read: Employers should be aware that data concerning non-compliance with California’s Individual Mandate will be publicly reported and published annually by the California Franchise Tax Board (FTB) on …
-
Affordable Care Act
New Stimulus Plan Expands PTC Eligibility, Employer Penalties
by Robert Sheenby Robert Sheen3 minute read: President Joe Biden recently signed into law the American Rescue Plan (ARP) and it includes provisions that make ACA healthcare coverage more accessible to Americans. The $1.9 …
-
3 minute read: President Joe Biden nominated California’s Attorney General Xavier Becerra, a known supporter of the ACA, as the new Health and Human Services (HHS) Secretary. On March 18, …
-
3 minute read: The Congressional Budget Office (CBO) issued a report last month that outlines the budgetary effects on American employment if the Raise the Wage Act of 2021 is …
-
Affordable Care Act
The IRS is Issuing ACA Penalty Letter 226J for 2018
by Robert Sheenby Robert Sheen3 minute read: The IRS has begun to issue Letter 226J penalty assessments to employers that failed to comply with the ACA’s Employer Mandate for the 2018 tax year. If …
-
3 minute read: ACA reporting for the 2020 tax year will be different from years past because of the new Individual Coverage Health Reimbursement Arrangement (HRA) codes. These new codes, …
-
Affordable Care Act
Employers May Face Additional Challenges with 2020 ACA Reporting
by Robert Sheenby Robert Sheen3 minute read: With the 2020 ACA filing deadlines fast approaching, employers will be met with additional reporting challenges due in large part to the COVID-19 pandemic. From determining full-time …
-
3 minute read: Since the Biden Administration took office a few weeks ago, changes to help bolster the Affordable Care Act are already underway. President Joe Biden has already signed …
-
Affordable Care Act
California Individual Mandate Penalties Will be Issued in 2021
by Robert Sheenby Robert Sheen3 minute read: State residents of California who failed to obtain health coverage during the 2020 tax year could see a penalty notice from the state as a part of …
-
3 minute read: The Patient Protection and Affordable Care Act (ACA) is a comprehensive healthcare reform law enacted under President Barack Obama in 2010. The implementation of the ACA represented …
-
Affordable Care Act
The Most Commonly Asked ACA Reporting Questions, Answered
by Robert Sheenby Robert Sheen3 minute read: With less than three weeks left to file for 2020, if not already completed, employers should be preparing their ACA filings with the IRS. With ACA reporting …
-
Affordable Care Act
More ACA Complexity: California Releases Draft Instructions Diverge From ACA Employer Reporting
by Robert Sheenby Robert Sheen2 minute read: With the zeroing out of the ACA’s “Individual Mandate,” which required individuals to have minimum essential health coverage through the enactment of the Tax Cuts and Jobs …
-
2 minute read: As businesses reopen and bring workers back to offices, restaurants, and retail stores across the country, employers should take this opportunity to look at their ACA compliance …
-
13 minute read: Compliance with the various employer provisions of the Affordable Care Act (ACA) can be complicated under normal employment conditions. As employers face the incredibly difficult business climate …
-
5 minute read: As businesses across the country are shutting their doors to comply with various state or local Stay at Home orders to combat the spread of the COVID-19 …
-
Affordable Care Act
No Statute of Limitations on Assessment of Employer Shared Responsibility Payment
by Robert Sheenby Robert Sheen2 minute read: The IRS Office of the Chief Counsel issued new field advice on February 24, 2020 (“Field Notice”) making it clear that there is no statute of limitations …
-
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 …
-
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 …
-
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 …
-
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 …
-
Affordable Care ActIRS 226J/226-J
IRS Letter 226J for 2016 “In the Mail”
by Robert Sheenby Robert Sheen3 minute read: It’s confirmed. The IRS will begin issuing Letter 226J for the 2016 tax year in the next few weeks. IRS staff has indicated that the penalty notices …
-
Affordable Care Act
What to Measure, Track and Record Under the ACA [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 …
-
2 minute read: As subject matter experts with ACA compliance, reporting, and related topics, we often times are asked questions about the law by our readers, which include insurance brokers, …
-
ACA ReportingAffordable Care ActIRS 226J/226-J
IRS Letter 226J Penalty Notices for 2016 May Contain Higher Penalties
by Robert Sheenby Robert Sheen5 minute read: Starting this fall, employers should expect Letter 226J penalty notices to be issued to organizations determined by the IRS to have failed to comply with the Affordable …
-
ACA ReportingForm 1094-CForm 1095-C
1094-C/1095-C Audit Can Prevent IRS ACA Penalties
by Robert Sheenby Robert Sheen3 minute read: If your organization has met the deadline to file and furnish schedules 1094-C and 1095-C to the IRS for Affordable Care Act reporting for the 2017 tax …