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Tag "IRS Letter 226J"
These Industries are Most at Risk for ACA Penalties From the IRS
The 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 Read More
The 2022 ACA 101 Toolkit is Here
The ACA’s requirements are constantly evolving and with new deadlines, increasing penalty amounts, and changing affordability thresholds the stakes are high. That’s why we created the ACA 101 Toolkit. To Read More
Handling Seasonal Employees and Workers is Critical for ACA Compliance
Unfortunately, we’ve heard firsthand from many organizations that their Affordable Care Act compliance responsibilities tend to slip during the summer months following the push to submit annual ACA information filings Read More
Submit ACA Corrections Now to Avoid IRS Penalties
The deadline to electronically file ACA forms 1094-C and 1095-C for the 2021 tax year was March 31. Did you make the deadline? If you did, were all your submissions Read More
IRS Limited Non-Assessment Periods Help Avoid ACA Penalties
The responsibilities under the ACA’s Employer Mandate may seem straightforward, but, in reality, complying with them can be challenging and time-consuming. An area that many Applicable Large Employers (ALEs) struggle Read More
Deadline to Furnish ACA Form 1095-C is Today
The 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 Read More
ACA Penalties Are Increasing in 2022
The IRS penalty amounts for non-compliance of the ACA’s Employer Mandate are again increasing in 2022. Below is a rundown of the new penalty amounts and how the IRS will Read More
AIRs Portal Downtime Could Prove Problematic for Employers
On 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 Read More
2022 Open Enrollment Sees Lower ACA Premiums
Open enrollment period for the 2022 coverage year is well underway, and ACA premiums are continuing to drop. The federal period for obtaining health coverage kicked off on November 1 Read More
Letter 226J Notices For The 2019 Tax Year Have Arrived
The IRS is now issuing Letter 226J penalty notices to employers identified as having failed to comply with the ACA’s Employer Mandate for the 2019 tax year. Just in time Read More
How Build Back Back Better Would Reshape U.S. Healthcare
With the Infrastructure Bill now officially signed into law, Congress will now shift its focus onto the $1.75 trillion Build Back Better proposal. In its current version, the plan could Read More
ACA Penalty Amounts for 2022 Tax Year Surface
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 Read More
Employers Must Now Do More To Contest ACA Penalties From the IRS
It’s no surprise that the IRSis increasing its enforcement efforts of the ACA’s Employer Mandate, but the amended Letter 226J language indicates that the agency is taking it to the Read More
3 Resources To Assist Employers With 2021 ACA Reporting
The 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? Read More
ACA Navigators to Receive Additional Funding For 2022
The 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. Read More
ACA Measurement Methods Are Critical for Avoiding IRS Penalties
If you or someone you know has been hit with IRS Letter 226J, you know that it is no laughing matter. The IRS is currently issuing these ACA penalty assessments Read More![Calculating FT and FTE Employees [UPDATED]](https://acatimes.com/wp-content/uploads/Friday-Repost-FT-_-FTE_BLOG-269x180_c.jpg)
Calculating FT and FTE Employees [UPDATED]
As part of their annual filing of healthcare coverage information with the IRS, organizations must determine if they are Applicable Large Employers (ALEs) for purposes of the Affordable Care Act Read More
The Look-Back Measurement Method Can Help Prevent ACA Penalties
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 to the IRS Read More
Understanding ACA Forms 1094-C/1095-C
Employers required to comply with the ACA’s Employer Mandate must report their full-time employee’s healthcare information to the IRS annually via forms 1094-C and 1095-C, but what exactly are these Read More
These Common Mistakes Can Result in ACA Penalties
3 min read ACA compliance can be time-consuming and complex. There is a myriad of issues that can arise during the course of the year that can make employers’ annual Read More
IRS 4980H ACA Penalties Are Forever
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 Read More
How to Handle ACA Filing Corrections With the IRS
3 minute read: If you found yourself in a situation where you received receipt of your ACA information returns for 2020 with a status of “Accepted with Errors,” you’re not Read More
Recapping on Biden’s ACA Reforms, What Employers Need to Know
3 minute read: Since Biden took office on January 20, 2021, several advancements to the Affordable Care Act followed, so we thought it best to recap on the ACA reforms Read More
Final Rule Allows for More Flexibility with Grandfathered Health Plans
3 minute read: In December 2020, the Departments of Labor, Health and Human Services, and Treasury (including the IRS) issued a final rule regarding ACA grandfathered health plans. Grandfathered health Read More
5 Resources Essential for ACA Compliance in 2021
The 2021 tax year is already halfway over. With the Biden administration ramping up legislation around the ACA and the IRS increasing its enforcement efforts, employers need to be sure Read More
Taxpayers (Including Employers) Have the Right to Challenge the IRS
The IRS has a Taxpayer Bill of Rights, which includes a section stating every taxpayer’s “right to challenge the IRS’s position and be heard.” These fundamental rights apply to all Read More
2021 IRS Deadlines to Avoid ACA Penalties
2 minute read: Every year Applicable Large Employers (ALEs) must file and furnish their ACA information to the IRS and their employees, respectively. Failing to do so can result in Read More
ACA Office Reopens & Issues 2018 Penalty Letters
1 minute read: The IRS Affordable Care Act (ACA) Enforcement Office, located in Ogden, Utah, had been temporarily closed since late March 2020, due to state stay-at-home orders issued in Read More
ACA to Aid Millions in Obtaining Healthcare, KFF Report Finds
2 minute read: The data is in: at least 27 million Americans have lost employer-sponsored health coverage as a result of COVID-19. The Kaiser Family Foundation issued a report in Read More
New Jersey Adopts ACA Provision to Lower Healthcare Costs
3 minute read: Earlier this month, New Jersey signed into law a state version of an Affordable Care Act provision, the Health Insurance Assessment (HIA) program. New Jersey is the Read More
ACA Compliance Responsibilities Could Increase if the Federal Government Adopts the ABC Test for Employee Misclassification
3 minute read: A tsunami for the gig economy may be coming on the horizon. We have written recently about the ongoing issues that gig economy employers, such as Uber Read More
ACA Expansion of Medicaid Passes in Missouri
3 minute read: In yet another triumphant win for the Affordable Care Act, the state of Missouri approved and passed the expansion of Medicaid. The expansion comes after nearly 53% Read More
Most States Reject Trump ACA STLDI Rule as DC Circuit Says It’s Here to Stay
2 minute read: The convergence of insurance regulation at the federal and state levels keeps getting more complex. In July, the DC Circuit Court of Appeals upheld the Trump administration Read More
Employee Misclassification Laws Add Headache to Employer ACA Compliance
3 minute read: In the past year three states have implemented laws that broaden the definition of “employee” and include penalties or additional liability exposure for employers who misclassify their Read More
ACA Enhancement Bill Telling of the Times
2 minute read: House of Representative Democrats have unveiled a bill that would enhance many of the ACA’s components while reversing much of the Trump administration’s onslaught to the healthcare Read More
Trump ACA Contraceptive Rule Upheld by Supreme Court
2 minute read: On July 8, 2020 the Supreme Court handed down its decision in Little Sisters of the Poor v. Pennsylvania, upholding the new Trump Administration rule regarding contraceptive Read More
ACA’s Expansion of Medicaid Takes Hold in Oklahoma
3 minute read: In late June, Oklahoma joined 37 other states and the District of Columbia in expanding Medicaid under the ACA. Better late than never and in good timing Read More
Proposed Rules allow for More Flexibility to Grandfathered Group Health Plans
2 minute read: The Treasury, the Internal Revenue Service, the Department of Labor and the Department of Health and Human Services have jointly released a notice of proposed rulemaking to Read More
Californians Beware, The Individual ACA Penalty Has Increased
2 minute read: California residents that fail to obtain qualified health coverage this year will receive a penalty from the state for an amount larger than first projected. Per California’s Read More
IRS to Begin Issuing ACA Penalty Letters after July 15, 2020
2 minute read: Employers should start gearing up for IRS penalty letters issued under the Affordable Care Act. According to an announcement posted on the IRS website, the IRS has Read More
Virginia’s New Misclassification Law Will Impact Employers ACA Compliance
2 minute read: Virginia has decided to get into the worker misclassification game with the passage and implementation of HB 984 on July 1, 2020. Unlike states such as California Read More
TIGTA Recommends Undisclosed Stricter Enforcement Procedures of the Employer Shared Responsibility Payment
1 minute read: On June 10, 2020, The Treasury Inspector General for Tax Administration (TIGTA) issued a heavily redacted report entitled “Improvements Are Needed to Ensure That Employer Shared Responsibility Read More
How Serious are Penalties under the ACA? Very.
2 minute read: The Affordable Care Act (ACA) is the single most important piece of health care legislation in generations. One major reason for the ACA’s significant impact on the Read More
Protect App-Based Drivers Act Would Create Further Employee Classification and ACA Reporting Issues
3 minute read: As part of their campaign against the requirements of California Assembly Bill 5 (AB5), which went into effect January 2020 and requires employers to treat contract workers Read More
Proposed IRS Regs Will Not Affect How Individuals Receive PTCs
2 minute read: The IRS recently issued proposed regulations on how the personal tax exemption reduction to “0” will affect qualifications for recipients of Premium Tax Credits (PTCs). Regulation 124810-19, Read More
AB5 Targets Multi-Level Marketing Companies – See How this Could Affect Your ACA Compliance
3 minute read: Multi-level marketing giant Amway was sued in a proposed class action earlier this year for misclassifying its Independent Business Owners (IBOs) as independent contractors instead of employees. Read More
ACA’s Expansion of Medicaid Key Player for Providing Health Coverage Amid COVID-19
2 minute read: By now it’s become abundantly clear how important it is for individuals to have health coverage. COVID-19 or not, healthcare is saving lives and the ACA has Read More
Why CMS’s 2021 Payment Notice May Lead to More PTC Allocations
2 minute read: Back in March, the Centers for Medicare and Medicaid Services (CMS) issued the Notice of Benefit and Payment Parameters for 2021 (2021 Payment Notice). The rule includes Read More
Employers May See More ACA Penalties As a Result of COVID-19
2 minute read: A new data analysis report from the Kaiser Family Foundation (KFF) finds the vast majority of Americans who lost their job amid COVID-19will be eligible for government Read More
