Individual taxpayers who obtain Premium Tax Credits from the federal government to subsidize health insurance plans purchased on government healthcare exchanges under the Affordable Care Act (ACA) will be filing …
IRS
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ACA ReportingIRS
Less Than 30 Days to First IRS Filing Deadline for 2017 ACA Information
by Robert Sheenby Robert SheenWe are less than 30 days away from the first deadlines for filing Affordable Care Act (ACA) information for the 2017 tax year. How time flies! Here is who must …
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Affordable Care ActIRS 226J/226-J
Online ACA Resource Center Offers Free Information to Aid 2017 IRS Filings
by Robert Sheenby Robert SheenThrough The ACA Times, we regularly provide information that we hope has helped make it easier for organizations to deal with the complexities of the Affordable Care Act (ACA). We …
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Affordable Care ActIRS 226J/226-J
INFOGRAPHIC: How to Respond to IRS Letter 226J
by Robert Sheenby Robert SheenThe Affordable Care Act (ACA) is complex. The ACA Penalty Process now being initiated by the IRS is no exception. With 30 days to respond upon receipt of IRS Letter …
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Affordable Care ActIRS 226J/226-J
Two Errors That Are Triggering ACA Employer Shared Responsibility Payments from the IRS
by Robert Sheenby Robert SheenSome trends are emerging on what is triggering the IRS to issue Letter 226J notices to organizations. Since November, the IRS has been sending notices to organizations that failed to …
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ACA ComplianceEmployee Misclassification
Worker Misclassification Can Impact ACA Compliance
by Robert Sheenby Robert SheenOn December 31, 2017, the North Carolina Employee Fair Classification Act (EFCA) took effect. The new law allows for heightened investigations into those employers that are allegedly misclassifying their workers …
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Affordable Care ActIRS 226J/226-J
Despite Tax Reform, Expect IRS to Enforce the ACA’s Individual and Employer Mandates
by Robert Sheenby Robert SheenThe approval of tax reform legislation by Congress may ultimately have an impact on the Affordable Care Act (ACA) in 2019. That’s when the legislation essentially repeals the individual mandate …
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ACA ComplianceAffordable Care ActIRS
IRS Extension of Good Faith Relief is Good and Bad News
by Robert Sheenby Robert SheenAs the saying goes, I have some good news and some bad news. For the good news, the IRS has extended good faith relief for information-reporting requirements for the Affordable …
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Affordable Care ActIRS
IRS Extends 2018 ACA Deadline for Providing 1095-Cs to Employees
by Robert Sheenby Robert SheenThe IRS has extended the 2018 deadlines to provide 2017 health coverage information forms to individuals as required by Affordable Care Act (ACA). The information was included in a new …
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ACA ComplianceTax Reform
ACA Individual Mandate is Set to be Gone, but Desire for Health Insurance Remains
by Robert Sheenby Robert SheenAs part of tax reform legislation passed by Congress, the individual mandate provision in the ACA requiring every American citizen to obtain health insurance or pay an annual financial penalty …
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Affordable Care ActIRS
The IRS Issues Guidance on the ACA’s Individual Mandate While Congress Looks to Repeal It
by Robert Sheenby Robert SheenDuring 2017, the IRS has steadfastly avoided being swayed by the political breezes, even when they seemed to reach hurricane-level velocity. When President Trump and Republicans in Congress were readying …
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Affordable Care ActTax Reform
Tax Reform Bills Keep ACA Employer Mandate Intact
by Robert Sheenby Robert SheenThrowback Thursday Feature from Wednesday, December 6, 2017. When the U.S. House and Senate Republicans meet in conference to discuss how they will reconcile their two different tax reform legislations, among …
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The IRS has announced the penalty amounts for companies with 50 or more full-time or full-time equivalent employees that do not comply with the Affordable Care Act (ACA) for the …
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Affordable Care Act
Preparing For Affordable Care Act Filings With the IRS? Here’s a Checklist That May Help [Updated]
by Robert Sheenby Robert SheenUpdated from original blog post on November 7, 2017. The ACA filing deadlines for the 2017 tax year are fast approaching. With the IRS sending penalty notices for ACA filings …
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Affordable Care ActIRS 226J/226-J
IRS Letter 226J Infographic Details Response Process [Updated]
by Robert Sheenby Robert SheenUpdated from original blog post on December 4, 2017. As more organizations start to prepare for the possibility of receiving a holiday greeting from the IRS in the form of …
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Affordable Care ActIRS 226J/226-J
IRS Provides Information on Responding to Letter 226J
by Robert Sheenby Robert SheenThe IRS has posted information on its website regarding Letter 226J, the initial letter issued to Applicable Large Employers (ALEs) – those organizations with 50 or more full-time or full-time …
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Affordable Care ActHealth Care Coverage
ACA Enrollment Continues at Faster Pace From Previous Year
by Robert Sheenby Robert SheenThey say that you don’t know what you’ve got till it’s gone, a theory that may be true for the Affordable Care Act (ACA). It was just months ago when …
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Affordable Care ActIRS
Are Your Clients Ready for the IRS’s ACA Penalty Assessments?
by Robert Sheenby Robert SheenOriginally published on November 21, 2017 in “Accounting Today” The IRS has been sending signals since the summer that it will be enforcing the Affordable Care Act’s employer mandate. Those signals …
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Affordable Care ActSmall Business Health Options Program (SHOP)
Free ACA Resources for Small Businesses
by Robert Sheenby Robert SheenThe federal government provides free online resources to help small businesses better understand the requirements of the Affordable Care Act (ACA) and how they might be able to offer health …
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Affordable Care ActHealth Care Coverage
Why It Matters That More People Signed Up for ACA Health Coverage In 2018
by Robert Sheenby Robert SheenIt was meant to have the opposite effect. The Trump administration’s decision to undermine the Affordable Care Act (ACA) by shortening the annual open enrollment period to 45-days and cutting …
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Affordable Care ActHealth Insurance Marketplace
The Healthcare Marketplace is Stabilizing Around the ACA
by Robert Sheenby Robert SheenWe are well into open enrollment period for the Affordable Care Act (ACA). Despite significant increases in premium rates for 2018, enrollment for healthcare coverage on HealthCare.gov is higher than …
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ACA ComplianceAffordable Care ActIRS 226J/226-J
The IRS is Sending Million Dollar ACA Penalty Notices to Employers
by Robert Sheenby Robert SheenThe letter no one wants is now in the mail! (click the image for the full letter) Applicable Large Employers (ALEs), employers with 50 or more full-time or full-time equivalent …
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Are deadline extensions and reinstatement of penalty relief for the Affordable Care Act (ACA) in the cards for employers? The IRS Information Reporting Program Advisory Committee (IRPAC) has recommended the …
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Affordable Care ActIRS
How to Respond to IRS Letter 226J About Affordable Care Act Penalties
by Robert Sheenby Robert SheenIt’s the letter no one wants to receive. However, its coming and you need to be prepared just in case your company or client receives it. It is Letter 226J, …
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As we reported this week, the IRS has issued guidance on its plans to issue penalty notices by the end of this year to Applicable Large Employers (ALEs) it believes …
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Affordable Care Act
Preparing for Affordable Care Act Filings with the IRS? Here’s a Checklist That May Help
by Robert Sheenby Robert SheenNow is the time to be assessing where you stand in gathering the necessary information necessary for filing ACA-mandated information with the IRS. Organizations with more than 50 full-time or …
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ACA ComplianceIRSIRS 226J/226-J
The IRS Will Start Issuing ACA Penalty Notices in 2017
by Robert Sheenby Robert SheenAs we reported earlier this year, indications from the IRS pointed to the agency sending enforcement notices by December 2017 to businesses with 50 or more employees – referred to …
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Affordable Care ActIRS
Free Resources from the IRS to Answer Your Questions on the ACA
by Robert Sheenby Robert SheenThe IRS provides a variety of resources to assist organizations in better understanding the requirements of the Affordable Care Act (ACA). Here’s are some that we hope you will find …
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Affordable Care ActIRS
Update on IRS Penalties for Employers That Fail to File ACA-Mandated Information
by Robert Sheenby Robert SheenYou can expect to see a slight increase in IRS penalties related to the Affordable Care Act for the 2018 and 2019 tax filing seasons, which reflect reporting for the …
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Affordable Care ActHealthcareIRSPenaltiesTax Filings
Has the ACA Bettered the Language Barriers in Forms Reporting? We Asked a Professional
by Robert Sheenby Robert SheenOver the last few years, pocket neighborhoods of Spanish speaking individuals have produced significant language barriers when it comes to the Affordable Care Act (ACA). Many whose primary language is …
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Affordable Care ActIRS
IRS Roundup: What You Need to Know About the IRS and the Affordable Care Act
by Robert Sheenby Robert SheenOver the past few months, the IRS has been moving forward with preparations for the ACA-mandated filings for the 2017 tax reporting year. Here’s what we know so far about …
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Affordable Care ActIRS
IRS To Enforce Individual Mandate for 2017 Tax Returns
by Robert Sheenby Robert SheenIn yet another sign that the IRS will be enforcing the Affordable Care Act, the IRS’s ACA Information Center for Taxpaying Professionals is providing updated guidance that it will require …
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Affordable Care Act
New White House Executive Order Doesn’t Change ACA Employer Mandate
by Robert Sheenby Robert SheenThe Executive Order directed at the Affordable Care Act (ACA) that was signed by President Trump last week addresses three areas he claims will expand healthcare choices to Americans. The …
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ACA ReportingIRS
IRS Issues Instructions for Use of New ACA Forms for 2017 Tax Year [NEW REPORT]
by Robert Sheenby Robert SheenThe IRS has followed the release of the 2017 forms for filing Affordable Care Act (ACA)-mandated information with the IRS for the 2017 tax year with the instructions for the …
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ACA ReportingIRS
IRS Issues New ACA Forms for 2017 Tax Year [NEW REPORT]
by Robert Sheenby Robert SheenThe IRS continues to prepare for employers to file ACA-mandated information with the IRS for the 2017 tax year. The IRS is now making the new Form 1094-C and Form …
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ACA Compliance
The Two C’s of Open Enrollment Season: Communication and Compliance
by Robert Sheenby Robert SheenThe Affordable Care Act raised the ante on providing health insurance to Americans for U. S. businesses. It mandated that applicable large employers (those with 50 or more full-time employees …
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Affordable Care ActEmployee Misclassification
GrubHub Trial Could Set Precedent for Employee Misclassification Lawsuits
by Robert Sheenby Robert SheenGrubHub is on trial for a case of employee misclassification involving its drivers. The drivers allege they were misclassified by the on-demand food delivery app as independent contractors and not …
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ACA ReportingIRS
IRS Extends Voluntary Reporting Of Catastrophic Coverage
by Robert Sheenby Robert SheenThe IRS released Notice 2017-41 last month, informing health insurance issuers of further guidance surrounding the reporting of catastrophic plan coverage acquired through the ACA’s Health Insurance Marketplace. It’s the …
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ACA Compliance
With the Threat Of ACA-Imposed Penalties From the IRS, Employers Must Be Serious About Tracking Employee and Worker Time
by Robert Sheenby Robert SheenThe Affordable Care Act’s (ACA) mandate that employers with 50 or more full-time or full-time equivalent employees must offer health insurance coverage to their full-time employees has come with added …
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ACA CompliancePremium Tax Credit
Incorrect PTC Calculations Show that Technology Is A Gift and a Curse
by Robert Sheenby Robert SheenOver the last two years, the IRS has made some strides in ensuring that certain ACA-mandated processes are as seamless as possible for taxpayers and employers, from streamlining electronic form …
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ACA ReportingIRS
IRS Reveals 2017 Average National Monthly Premium Needed to Calculate Individual Taxpayer Penalties for ACA
by Robert Sheenby Robert SheenThe IRS has issued the 2017 Average National Monthly Premium of bronze-level qualified health plans for both individuals and shared responsibility families of five or more. That figure is the …
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Affordable Care Act
Surveys Show Public Support for ACA Continues to Grow
by Robert Sheenby Robert SheenIt’s become clear that the American public is not so down on the Affordable Care Act (ACA), at least not anymore. The Kaiser Family Foundation (KFF) has been conducting regular …
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Affordable Care ActIRS
Everything You Want To Know About Virtual IRS Appeals and the ACA
by Robert Sheenby Robert SheenFor many Americans, tax appeals are a daunting process. Every year, the IRS Office of Appeals sees over 100,000 tax appeals travel across their desks from those taxpayers challenging the …
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ACA ReportingIRS
Independent of the Bipartisan Effort to Reform Healthcare, the IRS Continues to Enforce the ACA
by Robert Sheenby Robert SheenIn the wake of Congress being unable to pass ACA repeal and replace legislation, a bipartisan effort seems to be growing around improving the ACA. Indeed, a majority of Americans …
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ACA Compliance
Tracking Time and Attendance: A Business Intelligence and Regulatory Imperative
by Robert Sheenby Robert SheenAs misclassification suits arise from ill-defined job descriptions in the gig economy, how employees utilize their workdays is also becoming an issue. Who is managing and tracking how workers spend …
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ACA ComplianceIRS
Another Sign That the IRS is Moving Forward with Enforcing ACA Compliance
by Robert Sheenby Robert SheenLetters released this month by the IRS continue to point to the agency moving forward with its plans to enforce the Affordable Care Act (ACA). The IRS has indicated it …
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Affordable Care ActEmployee Misclassification
New Developments Continue to Dog Uber About Worker Misclassification
by Robert Sheenby Robert SheenIn the United States alone, Uber has over 600,000 drivers, some of whom over the course of the last two years have been entangled in numerous lawsuits surrounding their rights …
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IRSTIGTA
2 Reasons Why Employers Should Care About the IRS Individual Mandate Report
by Robert Sheenby Robert SheenA recently released report from the Treasury Inspector General for Tax Administration (TIGTA) on IRS notifications in regards to the ACA’s individual mandate has potential implications for employers. TIGTA, at …
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ACA ReportingIRS
Draft IRS ACA Reporting Forms for 2017 Are Out, Transition Relief for Companies Is Over
by Robert Sheenby Robert SheenThe IRS has released drafts of forms 1094-C and 1095-C for use in reporting ACA-mandated information for the 2017 tax year. You can view the draft forms at these links: …
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At times, companies may feel like they are swimming in data. It’s an information overload, and a lack of organization can lead to many mistakes in consolidating, validating and analyzing …