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Tag "IRS Letter 226J"
Challenges in ACA Compliance during the Covid-19 Pandemic
3 minute read: As businesses across the country shutter their doors, reduce their hours and move to remote working to comply with various state or local stay at home orders Read More
What You Need to Know: ACA Rule of Parity, COVID-19 Pandemic and Temporary Layoffs
4 minute read: The Coronavirus (Covid-19) is putting a strain on all aspects of life in the United States right now. For businesses, they are struggling with closures, decreased demand, Read More
Supreme Court to Rule on ACA Constitutionality
2 minute read: The Supreme Court has agreed to rule on the constitutionality of the Affordable Care Act, for a second time. This unusual turn of events comes after the Read More
ACA Changes Continue to Stabilize the Marketplace
3 minute read: According to research by the Kaiser Family Foundation (KFF), there will be an average of 4.5 insurers per state this year, up from 4.0 in 2019 and Read More
The Gig Economy Is Losing Ground in its Fight with AB5
3 minute read: The passage and implementation of Assembly Bill 5 (“AB5”) in California has become a reckoning for employers who engage with large numbers of independent contractors and has Read More
California Health Exchange Welcomes New Enrollees Thanks to Individual Mandate
2 minute read: As California finalizes its initial open enrollment results, the data shows the state’s Individual Mandate played a part in the higher turnout. According to Covered California, the Read More
AIRs Portal Downtime Could Prove Problematic for Employers
3 minute read: When submitting ACA filings to the IRSeach year, many employers elect to file electronically, due to the many benefits. What employers may be unaware of however, is Read More
Why Monthly ACA Compliance is Critical for Avoiding IRS Penalties
2 minute read: With the IRS expected to continue to ramp up enforcement of the ACA’s Employer Mandate this year, employers should recognize the importance of a monthly ACA compliance Read More
Proposed CMS Rule Could Reduce Number of Premium Tax Credits
2 minute read: The Centers for Medicare and Medicaid (CMS) has proposed a rule that would ensure that the agency doesn’t wrongfully provide health insurance subsidies, or Premium Tax Credits Read More
Mark These 2020 Dates for 2019 ACA Reporting (UPDATE)
3 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 Read More
ACA Marketplace Continues to Stabilize in 2020
2 minute read: The 2020 open enrollment results for individuals enrolling through the Healthcare.gov platform are in, and the results indicate a strong and stabilizing health care system. A report Read More
Dave & Buster’s Demonstrates Importance of Complying With the ACA
2 minute read: After a multi-year odyssey, Marin v. Dave & Buster’s, Inc., the class action lawsuit filed in federal courts in New York’s Southern District against the entertainment and Read More
California’s Individual Mandate is Here
2 minute read: Now that it is 2020, several state-wide Individual Mandates have gone into effect, including California’s. As of January 1, California residents, including domestic partners and their dependents, Read More
Avoid IRS Penalties by Electronically Submitting your ACA Filings
4 minute read: If you are not yet filing Affordable Care Act information electronically with the IRS, you may want to reconsider. There are some considerable benefits to doing so, Read More
Why IRS Enforcement of the ACA Will Become More Severe in 2020
3 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 their Read More
ACA Full-Time: What is it and Why Does it Matter?
4 minute read: What constitutes a full-time employee under the Affordable Care Act? The answer is not as simple as it seems. Getting this full-time employee count right matters under Read More
Five ACA Resources to Help with Compliance in 2020
1 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 Read More
Tis’ The Season to Check the Health of Your Data for ACA Reporting
5 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 Read More
ACA to Remain Following Fifth Circuit Court Decision
2 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 Read More
New Jersey Issues Updated State-Level ACA Reporting Guidance
2 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 Read More
Employers Need to Meet IRS Deadlines to Avoid ACA Penalties
3 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 Read More
Letter 972CG Late Penalty Assessments are Becoming More Difficult to Repeal
2 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 Read More
The Look-Back Measurement Method Can Help Prevent ACA Penalties
4 minute read: Determining the accurate full-time employee count during a calendar year is important for Affordable Care Act compliance. Classifying employees incorrectly can lead to inaccurate information being submitted Read More
IRS Using Levy Power to Collect ACA Penalties
2 minute read: It’s bad enough that employers could face financial penalties for not complying with the Affordable Care Act. Now, the IRS has started using its levy power to Read More
Proposed IRS Regs Provide Guidance on ACA and HRAs
3 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 Read More
Eliminating the ACA’s Cadillac Tax Will Not Impact the Employer Mandate
3 minute read: All eyes on are the U.S. Senate to see if a vote will be taken to eliminate a tax associated with the Affordable Care Act. The tax Read More
These Common Mistakes Can Result in ACA Penalties
3 minute read: Affordable Care Act compliance can be time-consuming and complex. There are a myriad of issues that can arise during the course of the year that can make Read More
Maine Implements a Statewide Health Exchange
2 minute read: Maine will become the next state to administer its own statewide health exchange. The state will however, continue to operate on the federal healthcare.gov website platform. The Read More
IRS Penalties Create A Hurricane for Businesses Failing to Comply with the ACA
5 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 Read More
ACA Approval Ratings on The Rise
3 minute read: As the discussion over the 2020 election begins to take shape, we can expect the Affordable Care Act to be a topic of debate. However, based on Read More
ACA Measurement Methods Are Critical for Avoiding IRS Penalties
3 minute read: If you or someone you know has been hit with IRS Letter 226J, you know that it is no laughing matter. The IRS is issuing these ACA Read More
IRS Enforcement of the ACA Not Wavering
2 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 Read More
IRS Issues Letter 972CG to Employers for Late ACA Filings
4 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 Read More
The IRS Is Intensifying ACA Enforcement Efforts
3 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 Read More
A Late Response to IRS Letter 226J Could Cost You
2 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 Read More
Penalties for the 2019 Tax Year Are Higher Than Ever
3 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 Read More![Trump Tries to Change the ACA, But Not The Employer Mandate [UPDATE]](https://acatimes.com/wp-content/uploads/AdobeStock_71101565_1280px-269x180_c.jpg)
Trump Tries to Change the ACA, But Not The Employer Mandate [UPDATE]
3 minute read: President Trump announced his intent to make administrative changes to the Affordable Care Act in 2017 as part of this executive order, “Promoting Healthcare Choice and Competition Read More
ACA Compliance is Hot This Summer
4 minute read: The words “Summer” and “vacation” are often paired together. Applicable Large Employers should note that even though their ACA filing responsibilities have likely been satisfied due to Read More
IRS Stepping Up Enforcement of ACA
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 Read More
Handling Seasonal Employees and Workers is Critical for ACA Compliance
3 minute read: Unfortunately, we’ve heard first hand from many of our clients that their Affordable Care Act compliance responsibilities tend to slip during the summer months following the push Read More
Monthly ACA Compliance Can Help Employers Avoid IRS Penalties
4 minute read: As the IRS rolls out Letter 226J penalty notices for the 2017 tax year, those of you who have a monthly compliance process in place to address Read More
California Passes New State-Wide Healthcare Individual Mandate
5 minute read: In early January, I wrote a blog post titled, “Will 2019 Be the Year for Statewide Individual Health Insurance Mandates?” More and more, it is appearing that Read More
Expect Greater Scrutiny and Audits from IRS Staff on ACA Compliance
4 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 Read More
IRS Limiting Length of Extensions for Responding to ACA Penalty Notices
3 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 Read More![How to Respond to IRS Letter 226J for the 2017 Tax Year [INFOGRAPHIC]](https://acatimes.com/wp-content/uploads/AdobeStock_125494126_1280px-269x180_c.jpg)
How to Respond to IRS Letter 226J for the 2017 Tax Year [INFOGRAPHIC]
1 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 Read More
Monthly ACA Compliance Can Help Employers Avoid IRS Penalties
4 minute read: As the IRS begins rolling out a new round of ACA penalty notices this month, we can’t stress enough how important it is to assess your compliance Read More![Get Ready! More IRS Letter 226J ACA Penalty Notices Are on the Way [UPDATE]](https://acatimes.com/wp-content/uploads/AdobeStock_63347972_1280pxx-269x180_c.jpg)
Get Ready! More IRS Letter 226J ACA Penalty Notices Are on the Way [UPDATE]
3 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 Read More
IRS Sending New ACA Penalty Notices for 2017 Tax Year
3 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 Read More
Suggestions on Responding to IRS 6721/6722 ACA Penalties
3 minute read: In late 2018, the IRS began issuing ACA penalties under IRC 6721/6722 to employers that failed to distribute 1095-C forms to employees and to file 1094-C and Read More
