The IRS recently made available the 2024 ACA penalty amounts for non-compliance with the Employer Mandate. And they have increased yet again. In Rev. Proc. 2023-17, the tax agency makes …
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With the New Year well underway, the IRS has begun assessing new ACA penalties, setting the tone for compliance in 2024. Earlier this month we received notice from a new …
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How do employers prove to the IRS that the healthcare plans they offer their workforce are affordable under the ACA? It’s an important question for Applicable Large Employers (ALEs), employers …
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The IRS recently announced the ACA affordability threshold for the 2024 tax year and it’s significantly lower than last year’s, which was a historic low at the time. In IRC …
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With open enrollment for the 2024 calendar year approaching quickly, organizations should turn their attention to ACA compliance efforts to ensure their processes and procedures for administering health plans are …
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Is your business ready to face increased government scrutiny of Affordable Care Act (ACA) Employer Mandate compliance? A recent surge in resources targeting tax evaders and ACA enforcement means that …
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It’s no secret the IRS is ramping up ACA enforcement. With additional funding for improving its tax correspondence processing infrastructure, more staff than ever, and a renewed focus on compliance, …
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On December 12, the IRS issued final regulations confirming the end of good-faith transition relief. The good news is that the regulations also include a permanent, automatic 30-day extension for …
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The IRS recently announced that the ACA penalty assessments issued for non-compliance with the Employer Mandate are increasing for the 2023 tax year. Below we highlight the new penalty amounts …
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Following many months of debate, Biden signed the Inflation Reduction Act into law yesterday, marking a historic occasion for the future of U.S. healthcare, the environment, and tax enforcement. Included …
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Late last week news broke regarding a $300 billion bill that would extend the enhanced ACA subsidies issued via Premium Tax Credits (PTC) through 2025. It all started when Senator …
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Earlier this month the IRS issued draft ACA Forms 1094-C and 1095-C for the 2022 tax year. For the first time in years, there do not seem to be any …
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Following the 2021 tax year, the ACA has garnered the highest number of enrollments it has ever seen. Over 35 million Americans have obtained health coverage because of the ACA, …
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The IRS has made significant progress in the historic backlog it’s still facing, but it still has a long way to go. Chief IRS Commissioner Charles Rettig anticipates clearing the …
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Over 10 years after the ACA was first signed into law, the reporting requirements under the ACA’s Employer Mandate have proven challenging and time-consuming for most. But quick-service restaurants have …
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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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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 …
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3 min read ACA reporting for the 2021 tax year may not be top of mind for employers right now, but that doesn’t mean you shouldn’t be aware of the …
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3 minute read: IRS enforcement of the ACA is going to increase throughout the remainder of the year and well into 2022, as President Biden’s FY 2022 discretionary request alludes …
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Have you ever wondered what would happen if your organization didn’t pay an ACA penalty issued by the IRS? In this post, Trusaic explains what you need to know about …
