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Tag "IRS"
IRS Releases New ACA Filing Information for the 2020 Tax Year
2 minute read: The IRS has published various Affordable Care Act Information Returns (AIRs) documents for the 2020 tax year with which employers will need to familiarize themselves before filing Read More
What You Need to Know About Letter 5699
2 minute read: What Is Letter 5699? Letter 5699, Missing Information Return Form 1094/1095-C, is used to make initial contact with an organization that the IRS believes may have been Read More
New IRS Notice Addresses COVID-19, Medicaid, and the ACA
2 minute read: New IRS guidance addresses the intersection of COVID-19, Medicaid, and the Affordable Care Act (ACA). In a bid to increase COVID-19 testing in the U.S., one facet 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
How AB 2257 May Change Employers’ ACA Compliance Process
2 minute read: California’s AB 5 has forever changed how employers work with freelance workers; that much is certain. A new bill, however, may provide relief for employers that work 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
ACA Reporting to Grow in Complexity Due to State Individual Mandates
3 minute read: Employers with operations in states that have additional state level ACA reporting as a requirement of the state’s Individual Mandate know that it’s no easy undertaking, but 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
New Victory Shows ACA’s Staying Power in Court
2 minute read: In another court victory for the Affordable Care Act (ACA), a federal appellate court ruled in Texas v. Rettig that a provision of the ACA that imposes Read More
IRS Affordability Safe Harbors Help Avoid ACA Penalties
4 minute read: How exactly do employers prove to the IRS that the healthcare plans they are offering to their workforce are affordable under the Affordable Care Act? It’s an 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 Affordability to Increase for the 2021 Tax Year
2 minute read: For the 2021 tax year, the ACA affordability threshold will increase. That means employees will likely have to contribute more towards their employer-sponsored healthcare. IRS Notice Rev 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
Gig-Economy Worker Benefits Will Affect ACA Compliance
3 minute read: It’s no mystery that both companies and consumers benefit from the gig-economy, but what about the workers? Sure, it provides a means to an end, but workers 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
More ACA Complexity: California Releases Draft Instructions Diverge From ACA Employer Reporting
2 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 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
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
ACA Penalties under §4980H are not Subject to a Statute of Limitations
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 Read More
The ACA PCORI Fee Deadline is Fast Approaching
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 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: Earlier this month 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
Know your Tax Relief and ACA Compliance Obligations during the Pandemic: California Governor’s Executive Order brings Property Tax penalty Relief
2 minute read: On May 6, 2020 California Governor Gavin Newsom issued Executive Order N-61-20 providing some property tax penalty relief to individual and small business taxpayer’s who have been Read More
ACA Penalties to Continue with the IRS Returning to Work
2 minute read: As states begin to lift their shelter-in-place orders and begin plans to re-open, employers should take note of recent IRSactivity, as the agency is expediting its efforts Read More
Workforce Changes Now Will Affect ACA Reporting Later
3 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. Read More
Congress May Give PPP Recipients More Relief from the IRS
1 minute read: On April 30, 2020 the IRS recently issued IRS Notice 2020-32. This Notice discusses the tax deductibility status of expenses that are forgiven under the Paycheck Protection Read More
TIGTA Reports 27.4% of Premium Tax Credits Are Improper Payments
2 minute read: On April 30, 2020, the Treasury Inspector General for Tax Administration (TIGTA) issued a new report entitled, “Improper Payment Reporting Has Improved; However, There Have Been No Read More
Returning to Work: Rehiring Employees After COVID-19 and the Impact on ACA Compliance
4 minute read: As states begin to relax their stay at home orders and businesses look to reopen post COVID-19 Pandemic, Employers should start thinking about how bringing back furloughed Read More
No Double Dipping: Forgiven Covered Expenses on a PPP Loan Are Not Deductible
1 minute read: The IRS recently issued IRS Notice 2020-32. See here. This Notice discusses the tax deductibility status of expenses that are forgiven under the Paycheck Protection Program (“PPP”) Read More
Supreme Court Rules in Favor of ACA Risk Corridors
2 minute read: The Affordable Care Act chalked up a win in late April when the Supreme Court ordered the federal government to pay insurance companies funding it’s been entitled Read More
WOTC Deadlines Are Extended
1 minute read: On April 9, 2020, the IRS issued Notice 2020-23 to provide relief relating to certain deadlines for taxpayers in response to the March 13, 2020 emergency declaration Read More
Potential ACA Relief for Employers Facing COVID-19 Hardship
2 minute read: As the COVID-19 global health pandemic continues to affect businesses large and small, employers must still comply with the requirements of the ACA’s Employer Mandate. Under the Read More
ACA COVID-19 Special Enrollment Periods Open in States Across the Country
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 Read More
Understanding ACA Forms 1094-C and 1095-C
2 minute read: 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 Read More
Workforce Management, ACA Compliance and the COVID-19 Pandemic
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 Read More
ACA Penalties on The Rise in 2020
2 minute read: The IRS has been busy issuing penalties to employers that failed to comply with the ACA’s Employer Mandate for the last several tax years. Employers should note Read More
Treasury Issues Interim Final Rule on the Paycheck Protection Program Loans
5 minute read: On April 2, 2020, the Treasury issued Interim Final Rule on the Paycheck Protection Program (“PPP”). The PPP is the program under the Coronavirus Aid, Relief, and Read More
What You Need to Know About COVID-19 Changes at the IRS
3 minute read: In the midst of theCOVID-19 crisis, the IRS announced that it will pare back operations to focus on “mission-critical” functions. In a notice updated on April 1, Read More
Insights in ACA Compliance during the Pandemic
3 minute read: As employers across the country continue to feel the impact of the COVID-19 Pandemic and work to comply with various state or local stay at home orders Read More
Today is the Deadline for Electronically Filing your ACA Returns
2 minute read: Today, March 31 is the IRS deadline for employers to provide electronic filings of forms 1094-C and 1095-C to the IRS for the 2019 tax year as Read More
Covid-19 Pandemic May Affect ALE Status
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 Read More
