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 …
IRS Penalties
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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 …
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Employers, take note: 2023 brings heftier IRS penalties for failure to comply with the ACA’s Employer Mandate. Under the ACA’s Employer Mandate, ALEs, or employers with 50 or more full-time and …
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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 …
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ACA Reform
Millions to Lose Coverage if American Rescue Plan PTCs Expire
by Robert Sheenby Robert SheenEnhanced Premium Tax Credit (PTC) subsidies introduced via the American Rescue Plan (ARP) are set to expire this December, and the consequences could be serious. Before diving into what could …
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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 …
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In the series of legal challenges against the ACA, the latest is an attack on free preventative care and it just may undermine significant advancements made to the U.S. healthcare …
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ACA ComplianceCOBRA
IRS Releases Further Guidance on COBRA Continuation Coverage
by Robert Sheenby Robert SheenThe IRS recently issued a notice that further clarifies the usage of Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage as amended via the American Rescue Plan (ARP). IRS Notice 2021-46 …
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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 …
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Affordable Care Act
5 Resources Essential for ACA Compliance in 2021
by Robert Sheenby Robert SheenThe 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 …
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Affordable Care Act
Taxpayers (Including Employers) Have the Right to Challenge the IRS
by Robert Sheenby Robert SheenThe 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 …
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Affordable Care Act
Wage Fixing Indictment Has Implications for Employers
by Robert Sheenby Robert Sheen3 minute read: A recent federal wage-fixing indictment against the former owner of a health care staffing company indicates that the Department of Justice’s Antitrust Division is taking a closer …
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2 minute read: This time last year was presumed to be the last time health insurers and employers offering self-funded health insurance plans would have to pay PCORI fees, but …
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ACA ComplianceACA ReportingAffordable Care Act
Workforce Changes Now Will Affect ACA Reporting Later
by Robert Sheenby Robert Sheen3 minute read: Several weeks into quarantine and social distancing, many are wondering when the country will reopen. As of April 20, 42 states had placed shelter in place orders. …
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2 minute read: While Trump Administration shot down the idea of a special ACA enrollment period to help individuals who have lost their coverage due to the COVID-19 Pandemic, states …
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2 minutes read: Due to the enormous challenges the coronavirus crisis is imposing on our healthcare system, the state of California has extended its Special Enrollment period. Effective immediately, the …
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3 minute read: Every year Applicable Large Employers (“ALEs”) must file Forms 1094-C and 1095-C with the IRS and furnish Forms 1095-C to employees considered full-time under the Affordable Care …
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ACA ComplianceAffordable Care Act
Why Monthly ACA Compliance is Critical for Avoiding IRS Penalties
by Robert Sheenby Robert Sheen2 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 …
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2 minute read: The annual PCORI fees have been extended through September 30, 2029 as a result of the Further Consolidated Appropriations Act of 2020. Health insurers and plan sponsors …
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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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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 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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2 minute read: The Affordable Care Act has seemed to turn the corner. On a number of fronts, it appears that the ACA is now being accepted as a beneficial …