The recent failure in the U.S. Senate vote to repeal the Affordable Care Act (ACA) leaves in place the ACA’s employer mandate. The employer mandate applies to businesses with 50 …
IRS
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IRSPremium Tax Credit
The IRS Finalizes Regulations for ACA Premium Tax Credits
by Robert Sheenby Robert SheenThe IRS on July 24 finalized regulations for the use of premium tax credits. These are the tax credits provided by the Affordable Care Act (ACA) to help lower income …
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ACA ReportingAIR
New IRS Memo Sheds Light On AIR Updates for ACA Information Reports
by Robert Sheenby Robert SheenThe upcoming reporting year deadlines for Affordable Care Act information returns for the 2017 tax year are: January 31, 2018: deadline to furnish 1095-C schedules February 28, 2018: deadline to …
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ACA ComplianceACA Reporting
ACA Filing Deadlines Still Loom Amid Reform Debate
by Robert Sheenby Robert SheenOriginally published on July 18, 2017 in “Compliance Week” As healthcare reform sputters along in Congress, companies still face filing deadlines under the Affordable Care Act, and the Internal Revenue Service …
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ACA Compliance
EEO-1 Reporting Complications Creates ACA Reporting Efficiencies
by Robert Sheenby Robert SheenAt first glance, it’s a nice reprieve that EEO-1 reports for the 2017 tax year have been postponed. Reports were slated for a September 30, 2017 due date for all …
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Affordable Care ActLegislation
Updated Better Care Reconciliation Act Released
by Robert Sheenby Robert SheenThe U.S. Senate has released a new, updated draft of the Republican-proposed Better Care Reconciliation Act aimed at winning over Republican Senators who were not enamored of the initially proposed …
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Health Care CoverageIRS
IRS Memorandum Sheds Light on Taxability Of Benefits Paid by Self-Funded Health Plans
by Robert Sheenby Robert SheenMany employers which provide self-funded healthcare for their employees have taken to covering the cost of employee participation in associated wellness plans. It’s a practice the IRS is well aware …
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ACA ComplianceIRS
IRS Still Moving Forward with ACA Compliance Enforcement for Employers
by Robert Sheenby Robert SheenThe IRS recently issued Notice 2017-38, which revealed the results of the Treasury Department’s review of all “significant tax regulations” per President Trump’s Executive Order 13789 issued in April 2017. …
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For those employers with self-insured plans, the annual filing and fee payments deadline is coming up on the Patient-Centered Outcomes Research Institute (PCORI) fee on July 31. IRS Form 720, …
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ACA Compliance
FCCI Identifies Five Common Challenges Organizations Face When Complying with ACA Requirements
by Robert Sheenby Robert SheenOp-Ed originally published in PR Newswire. LOS ANGELES, CA — June 7, 2017 — First Capitol Consulting, Inc., (FCCI) has achieved a 100 percent success rate in assisting organizations with filing …
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Affordable Care ActTIGTA
New Audit Reflects Positive Effects Of IRS’s HCTC For Those In Need
by Robert Sheenby Robert SheenIf there is one goal to highlight from the Affordable Care Act, it’s providing affordable healthcare to Americans. Last year, the IRS assisted in that cause with an interim process …
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ACA ComplianceACA ReportingHealth Care Coverage
Preparing Your 2016 ACA Forms – Better Late Than Never
by Robert Sheenby Robert SheenNow that the dust has settled that the Patient Protection and Affordable Care Act (ACA) is here to stay and the 2016 ACA reporting deadline is just behind us, employers …
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Employee MisclassificationIRS
IRS Tax Documents Assist Decision In Classification Case
by Robert Sheenby Robert SheenWith misclassification suits becoming more and more frequent, the latest case suggests that tax returns might be subject to mandatory disclosure in resolving classification issues. In a recent case, Mescalero …
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Affordable Care ActEmployee Misclassification
Misclassification of Employees Can Lead to Big Penalties Under the ACA
by Robert Sheenby Robert SheenThe Employer Mandate under the Affordable Care Act subjects Applicable Large Employers (ALEs) to penalties for failing to offer their full time employees healthcare coverage. Moreover, the ALE is subject …
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ACA ComplianceIRS
What To Do When An IRS Letter Lands In Your Mailbox
by Robert Sheenby Robert SheenThe dreaded IRS letter. It can mean anything or nothing at all. As tax season for the 2016 tax year is coming to an end for most, so begins the …
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ACA ComplianceACA Reporting
Thought That ACA Reporting for 2015 Was a Free Pass? Think Again.
by Robert Sheenby Robert SheenWith now two reporting years (2015 and 2016) behind us since the implementation of the Employer Mandate under the Affordable Care Act (ACA), the IRS has yet to impose any …
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ACA ReportingAffordable Care ActHealth Insurance Exchanges
How to Successfully Appeal an Exchange Notice from the Healthcare Marketplace
by Robert Sheenby Robert Sheen– Op-Ed published on April 7, 2017 on ‘Accounting Today’ – Some companies across the country may have experienced receiving exchange notices from the health insurance marketplace informing them they …
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Affordable Care ActHealth Care Coverage
As The ACA Stays, Should States Readjust Their Employer Mandate Demands?
by Robert Sheenby Robert SheenIn a matter of two weeks, everything seems to have changed for the fate of states and their
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ACA ComplianceAffordable Care Act
Life After The Proposed AHCA: An Employer’s Tip Sheet
by Robert Sheenby Robert SheenGoodbye AHCA, hello ACA. Again. While President Trump’s attempt to repeal and replace the Affordable Care Act (ACA) with the American Health Care Act (AHCA) has left many Americans relieved …
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IRSMedicaid
As IRS Section 1332 Support Continues, Can States Reform Healthcare On Their Own?
by Robert Sheenby Robert SheenNow that the vote on the American Healthcare Act has been withdrawn, and its return highly unlikely, it would appear that the Affordable Care Act will continue to be the …
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Affordable Care Act
Businesses Need to Make Affordable Care Act Filings with the IRS by March 31 or Request an Automatic Extension
by Robert Sheenby Robert SheenSome businesses may have suffered from wishful thinking when the legislation to repeal and replace the Patient Protection and Affordable Care Act (ACA) was proposed by Speaker Ryan and trumpeted …
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Affordable Care ActAmerican Health Care Act (AHCA)Health Care Coverage
Would American Health Care Act Dis-incentivize Employers From Offering Healthcare?
by Robert Sheenby Robert SheenOp-Ed Published on LA Biz Journal on March 21, 2017 Starting in the 1940’s, the Internal Revenue Service (IRS) made employer-based healthcare tax free. Employers were not required to offer …
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ACA AuditACA Compliance
The IRS ACA Audit Process Forces Employers to Prove Their Case or Face Penalties
by Robert Sheenby Robert SheenOp-Ed Updated Published on March 16, 2017 on ‘Accounting Today’ A few weeks after the national election, the Internal Revenue Service (IRS) began to issue notices to employers who may …
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Affordable Care ActHealth Care CoverageReporting
IRS Extends Transition Relief For QSE HRA Notice
by Robert Sheenby Robert SheenAt the close of February, the IRSreleased a notice regarding qualified small employer health reimbursement arrangement (QSE HRA) notices and an extension until further guidance is provided. These notices are …
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Health Care CoverageReporting
Employer Reporting Continues Under House Republican Leadership Proposed Bill
by Robert Sheenby Robert SheenOn March 6, 2017, the House Leadership recently unveiled its proposed bill called “American Health Care Act.”Among its provisions, the bill calls for termination of the issuance of premium tax …
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Affordable Care ActReporting
The IRS Won’t Reject Returns Without Healthcare Reporting, But You May Be Penalized
by Robert Sheenby Robert SheenAs we settle into the heart of tax season, the IRS has some new updates regarding how healthcare is reported on tax returns. The Affordable Care Act mandates individuals to …
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ACA ComplianceIRS
The IRS Audit Process Will Force Employers to Prove Their Case or Face Penalties
by Robert Sheenby Robert SheenPost election, in December of 2016, the Internal Revenue Service (IRS) began to issue out notices to employers who may have failed to comply with the ACA. These notices appear …
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IRSRegulationsReporting
IRS Clarifies De Minimis Error Safe Harbor For Information Return Penalties
by Robert Sheenby Robert SheenThe IRS recently published Notice 2017-9 announcing its intent to issue regulations regarding the obligation of a payor (e.g., employer) to document payee (e.g., employee) elections for application of the …
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ACA ComplianceReporting
ACA Reporting And The IRS: What To Know About The Letter You Received
by Robert Sheenby Robert SheenAt the close of 2016, the IRS letters mailed notices to employers, signaling the start of the IRS’s Affordable Care Act (ACA) audit process. Despite much talk of an ACA …
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Affordable Care ActIRSReporting
IRS Commissioner Reports On ACA Stats For 2015
by Robert Sheenby Robert SheenWhile we are getting our information in order for the 2016 tax year, we received some clarity on the previous year from the IRS. The IRS’s Commissioner John Koskinen has …
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ACA ComplianceIRS
Understanding Anti-Discrimination: The IRS Issues Final Rule
by Robert Sheenby Robert SheenIn the final rule from the Department of Health and Human Services (HHS) on Section 1557 of the Affordable Care Act, which prohibits discrimination on the basis of race, color, …
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ACA ComplianceAffordable Care ActHealth Care Coverage
Trump’s Executive Order on the ACA and Future Compliance Obligations
by Robert Sheenby Robert SheenOn his first day in office, Trump signed one of his first executive orders, entitled “Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal.” The …
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ACA ComplianceAffordable Care ActReporting
The Reality Of ACA Penalties Post-Repeal
by Robert Sheenby Robert SheenAs Donald J. Trump officially takes his seat as the 45th President of the United States, we inch closer to the reality of an Affordable Care Act repeal. While the …
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Affordable Care ActHealth Care CoverageRegulations
The U.S. Gig Economy Will Suffer With An ACA Repeal
by Robert Sheenby Robert SheenIndependent contractors, freelancers, consultants. These workers have slowly risen up the ranks as backbones of many companies, yet when it comes to traditional labor rights, they’ve consistently come up short. …
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ACA ComplianceReporting
Some ACA Compliance Still Required By Employers Despite Possible Repeal
by Robert Sheenby Robert SheenAs conflicting opinions of an ACA Repeal continue to loom overhead, from the Republican viewpoint, a repeal seems inevitable. However, this does not translate to an elimination of ACA compliance …
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Affordable Care ActIRSRegulations
IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor
by Robert Sheenby Robert SheenThe IRS has provided clarity with regard to what qualifies as an “intentional or reckless disregard of facts” by employees when it comes to seeking shelter under the employee Premium …
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IRSSmall Business Health Options Program (SHOP)
IRS Quick Update: Notice 2016-75
by Robert Sheenby Robert SheenIn a short update to Notice 2016-75 under Section 45R of theInternal Revenue Code, the IRS has shed some light on how small businesses can seek relief in unique circumstances. …
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ACA ComplianceHealth Care Coverage
Understanding ACA Compliance And Utilizing Staffing Firms
by Robert Sheenby Robert SheenBy now it should come as no surprise that maintaining ACA compliance is a confusing and at times difficult task. We know the basics: Applicable Large Employers (ALEs) with 50 …
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ACA ComplianceReporting
The IRS ACA Audit Has Begun: What To Do To Avoid Penalties
by Robert Sheenby Robert SheenA round of IRS letters have been mailed out to employers, signifying the start of the IRS’s Affordable Care Act audit process. As the Congressional Budget Office (CBO) anticipates nine …
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Affordable Care ActRegulationsReporting
IRS Releases Proposed Regulations For Health Insurance Provider Fees
by Robert Sheenby Robert SheenSection 9010 of the Affordable Care Act surrounds Health Insurance Provider Fees and the IRS has released some new proposed regulations for reporting information among other changes. See IRS REG-123829-16 …
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Form 1095-BTax Filings
Form 1095-B Has Been Updated For the 2016 Tax Year
by Robert Sheenby Robert SheenThe IRS has been updating several forms for the 2016 tax year. We’ve seen the final updated Forms 1094-C and 1095-C. Form 1095-B has also seen some changes. The Form, …
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Health Care CoverageIRS
The IRS’s Cost-of-Living Adjustments: An Infographic
by Robert Sheenby Robert SheenThe 2016 calendar year is closing out, and with it comes a variety of healthcare care related fee adjustments happening for 2017. The ACA Times has revealed the amounts we …
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Affordable Care Act
Small Businesses Approved For Health Reimbursement Accounts
by Robert Sheenby Robert SheenMuch of the news surrounding healthcare as of late had included strengthening relationships with Applicable Large Employers and their sponsored healthcare. However, on December 13, the 21st Century Cures Act …
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The IRS has released its adjusted figures for certain fees coming into the new year. The Patient-Centered Outcomes Research Institute (PCORI) fee being one of them. The fee was started …
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Form 5500Reporting
Proposed Changes To Form 5500? Here Are Some More Per AICPA
by Robert Sheenby Robert SheenOver the past year, Form 5500 has gone through changes and proposed modifications in an effort to streamline healthcare information reporting on the part of employers. The Department of Labor, …
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ACA Compliance
Regardless of Election & Rhetoric, Employers Are Still on the Hook for 2016 ACA Reporting
by Robert Sheenby Robert SheenIt remains unclear whether Trump and the Republican-majority Congress will repeal and replace the ACA. Shortly after loudly pledging that he will repeal and replace the ACA, just three days …
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ACA CompliancePenaltiesReporting
ACA’s 2016 Penalties Are Estimated to Near $31 Billion
by Robert Sheenby Robert SheenOver the course of 2016, the ACA Times has reported on ways for employers to comply with mandates of the Affordable Care Act in an effort to avoid paying large …
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Applicable Large Employer (ALE)Reporting
A Vital Infographic For All ALEs
by Robert Sheenby Robert SheenThe IRS has released a 7-point breakdown of pertinent information for Applicable Large Employers or “ALEs” in anticipation of the upcoming deadline for information reporting for the 2016 tax year. …
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2016 Presidential ElectionACA ComplianceReporting
With Trump Election Employers Still on Hook for 2016 ACA Reporting
by Robert Sheenby Robert SheenWith the stunning election of Donald Trump as President comes a serious question of what happens to the Employer Mandate under the Affordable Care Act (ACA), also known as “Obamacare.” …
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ACA ComplianceForm 1094-CForm 1095-C
New Instructions For Forms 1094-C and 1095-C: An Infographic
by Robert Sheenby Robert SheenAs the IRS released the final forms for 2016 Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns) and 2016 Form 1095-C (Employer-Provided Health Insurance Offer and …