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 …
Letter 5699
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ACA ComplianceACA Penalties
Avoid These Compliance Triggers to Minimize ACA Penalty Risk
by Robert Sheenby Robert SheenIt’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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It’s true the 2022 ACA reporting season deadlines have passed, but that doesn’t mean it’s the end of the ACA compliance efforts and ACA penalties. As we’ve previously communicated, IRS …
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ACA ComplianceACA Penalties
These Common Mistakes Can Result in ACA Penalties
by Robert Sheenby Robert SheenWithout the right resources, managing ACA compliance responsibilities can be time-consuming and difficult. There are many issues that can arise during the course of the year that can make employers’ …
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ACA Compliance
ACA Affordability Drops to Historic Low for 2023 Tax Year
by Robert Sheenby Robert SheenLast week the IRS announced the affordability percentage for Premium Tax Credits (PTCs) and employee contributions for employer-sponsored health coverage. In IRS Rev. Proc 2022-34, the agency makes clear that …
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Now that we’ve cleared the 2022 halfway mark, it appears the IRS is on track to hit its goal of clearing the historic backlog by the end of the year. …
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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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2 minute read: “What exactly is Form 1095-C?” It’s a question that employers often ask when they’re first introduced to the responsibilities of the ACA’s Employer Mandate. In this post, …
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Affordable Care Act
Why IRS Enforcement of the ACA Will Become More Severe in 2020
by Robert Sheenby Robert Sheen3 minute read: The beginning of a new decade is not the only thing certain in 2020 – employers can also count on the IRS continuing to step up its …
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Affordable Care Act
IRS Penalties Create A Hurricane for Businesses Failing to Comply with the ACA
by Robert Sheenby Robert Sheen5 minute read: It’s a hurricane of IRS penalty notices. And it’s no laughing matter for businesses that have failed to comply with the Affordable Care Act. The IRS is …
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ACA ComplianceAffordable Care Act
IRS Enforcement of the ACA Not Wavering
by Robert Sheenby Robert Sheen2 minute read: Give the IRS credit. It is consistent. In 2017, the federal tax agency responded to an inquiry about waivers to business owners from U.S. House Representative Bill …
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Affordable Care Act
A Late Response to IRS Letter 226J Could Cost You
by Robert Sheenby Robert Sheen2 minute read: Responding to IRS Letter 226J penalty assessments quickly and accurately is very important for a number of reasons, including reducing or eliminating the proposed penalty assessment. But …
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ACA ComplianceAffordable Care Act
Expect Greater Scrutiny and Audits from IRS Staff on ACA Compliance
by Robert Sheenby Robert Sheen4 minute read: The IRS staff is preparing a new round of IRC 4980H penalty assessments to be issued to employers for failing to comply with the requirements of the …
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ACA ReportingAffordable Care Act
Suggestions on Responding to IRS 6721/6722 ACA Penalties
by John Fordby John Ford3 minute read: In late 2018, the IRS began issuing ACA penalties under IRC 6721/6722 to employers that failed to distribute 1095-C forms to employees and to file 1094-C and …
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ACA ComplianceAffordable Care Act
The Signs Were There for IRS’s ACA Enforcement
by Robert Sheenby Robert Sheen5 minute read: One of the more complex sections of the Affordable Care Act is the Employer Shared Responsibility Provisions, also referred to as the ACA Employer Mandate. Under the …
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ACA ComplianceAffordable Care Act
Hey Accountants, the IRS is Coming for Your Clients
by Robert Sheenby Robert Sheen3 minute read: Originally published on March 6, 2018, in Accounting Today. Lost amid the confusion of the federal government shutdown this year was a new set of penalties the …
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ACA ReportingAffordable Care ActIRS
With IRS Staff Back, Expect A Flurry of ACA Penalty Notices
by Robert Sheenby Robert Sheen3 minute read: The government shutdown is over, at least for now, and IRS staff is back to work. Get ready for a flurry of Affordable Care Act penalty notices …
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Affordable Care ActIRS 226J/226-J
IRS Letter 226J for 2016 “In the Mail”
by Robert Sheenby Robert Sheen3 minute read: It’s confirmed. The IRS will begin issuing Letter 226J for the 2016 tax year in the next few weeks. IRS staff has indicated that the penalty notices …
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Affordable Care Act
Why You Should Be Concerned that ACA Exchange Notices are Being Issued
by Robert Sheenby Robert Sheen2 minute read: The fourth quarter of the 2018 tax year is here, bringing with it record temperatures in many parts of the country. The ACA enforcement process is also …
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ACA ReportingAffordable Care ActIRS 226J/226-J
IRS Letter 226J Penalty Notices for 2016 May Contain Higher Penalties
by Robert Sheenby Robert Sheen5 minute read: Starting this fall, employers should expect Letter 226J penalty notices to be issued to organizations determined by the IRS to have failed to comply with the Affordable …
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Affordable Care ActIRS 226J/226-J
IRS Letter 226J Notices for 2015 Tax Year May Be Issued Through 2019
by Robert Sheenby Robert Sheen3 minute read: Employers who have not yet received a 2015 ESRP penalty notice should not breathe a sigh of relief yet. The IRS identified 49,259 employers at risk for …
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ACA ReportingApplicable Large Employer (ALE)
Is Your Organization an ALE? (UPDATE)
by Robert Sheenby Robert Sheen4 minute read: It’s always interesting to look back and see how regulation develops. The Affordable Care Act (ACA) is no exception. I wrote a five-part series about the ACA …
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Affordable Care ActIRS 226J/226-J
Exchange Notices Can Lead to IRS Letter 226J ACA Penalties
by Robert Sheenby Robert Sheen3 minute read: It’s no secret the IRS has been actively enforcing the Affordable Care Act’s Employer Mandate. To date, the IRS has identified a total of 49,259 employers that …