Looking for ways your company can potentially save hundreds of thousands of dollars? The IRS has recently handed it to you with their recently released IRS Letter 5699, also known …
Minimum Essential Coverage (MEC)
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Summer is upon us and with it a number of annoyances. Mosquitos. Road construction. And those pesky Affordable Care Act (ACA) compliance responsibilities that tend to slip during summer months …
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While the Affordable Care Act’s Employer Mandate is likely very well known (if not well loved) by employers, many are unaware of the ACA’s Rule of Parity, which offers some …
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The deadline for electronically filing ACA forms 1094-C and 1095-C for the 2022 tax year was March 31. Did you make the deadline? If you did, were all your submissions …
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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 Full-Time: What is it and Why Does it Matter? What constitutes a full-time employee under the ACA? The answer is not as simple as it seems. And getting your …
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Now that the IRS received an influx of resources, including $80 billion in funding and 87,000 new tax agents, employers should keep their eyes peeled for the ACA warning notice, …
- ACA Compliance
ACA Measurement Methods Are Critical for Avoiding IRS Penalties
by Robert Sheenby Robert SheenIf you or someone you know has been hit with IRS Letter 226J, you know that it is no laughing matter. The IRS is currently issuing these ACA penalty assessments …
- ACA Compliance
What Employers Need to Know About the California Individual Mandate
by Robert Sheenby Robert SheenEmployers with operations in California should be familiar with the state’s Individual Mandate and the additional ACA reporting requirements, as they have been in effect since 2020. Still, organizations are …
- ACA Compliance
The Look-Back Measurement Method Can Prevent ACA Penalties
by Robert Sheenby Robert SheenDetermining the accurate full-time employee count during a calendar year is important for ACA compliance. Getting it wrong can lead to inaccurate annual information filings with the IRS and subsequently …
- 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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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 …
- ACA Reform
Millions to Lose Coverage if American Rescue Plan PTCs Expire
by Robert Sheenby Robert SheenEnhanced Premium Tax Credit (PTC) subsidies introduced via the American Rescue Plan (ARP) are set to expire this December, and the consequences could be serious. Before diving into what could …
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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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Last month the IRS published a proposed regulation that would amend the existing rule regarding employer-sponsored Minimum Essential Coverage (MEC) for family members of an employee. The proposed rule would …
- ACA DeadlineAffordable Care Act
March 31 is the Deadline for E-Filing ACA Returns With the IRS
by Robert Sheenby Robert SheenToday, March 31, 2021, is the e-filing deadline for submitting ACA Forms 1094-C and 1095-C to the IRS for the 2022 tax year, as required by the ACA’s Employer Mandate. …
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With the 2021 ACA reporting season coming to an end later this month, employers should turn their attention to ACA compliance for the 2022 tax year. A key component of …
- ACA DeadlineACA ReportingAffordable Care Act
Deadline to Furnish ACA Form 1095-C is Today
by Robert Sheenby Robert SheenThe deadline for distributing the ACAS 1095-C forms to full-time employees is today, March 2. Did you make it? This deadline applies to Applicable Large Employers (ALEs), or employers with …
- ACA Compliance
AIRs Portal Downtime Could Prove Problematic for Employers
by Robert Sheenby Robert SheenOn December 5, the IRS closed production of the Affordable Care Act’s Information Returns (AIRs) portal to prepare for 2021 reporting year electronic filing submissions. The agency says that the …
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Open enrollment for the 2022 plan year ends later this week but ACA signups are already hitting record new highs. Kaiser Health News cites a record-breaking 13.6 million Americans already …