The IRS is Issuing ACA Penalty Letter 5005-A For The 2017 Tax Year

The IRS is Issuing ACA Penalty Letter 5005-A For The 2017 Tax Year

January 26, 2021 3 minute read: The IRS has begun issuing Letter 5005-A, Information Return Penalty Notice (Form 1094-C or 1095-C) (“Letter 5005-A”), for the 2017 tax year, demonstrating their efficiency at identifying Read More
Don’t Forget The New 1095-C Codes Specific to The 2020 Tax Year

Don’t Forget The New 1095-C Codes Specific to The 2020 Tax Year

January 22, 2021 2 minute read: Every year Applicable Large Employers (“ALEs”) must file Forms 1094-C and 1095-C with the IRS and furnish Forms 1095-C to employees considered full-time under the Affordable Care Read More
ACA Improvements to Expect from the Biden Administration

ACA Improvements to Expect from the Biden Administration

January 19, 2021 3 minute read: The inauguration welcoming president-elect Joe Biden to the White House is imminent and with the recent shift in majority control of the Senate, we can expect a Read More
PPP Loans Are Now Available, Both First Draw and Second Draw PPP Loans

PPP Loans Are Now Available, Both First Draw and Second Draw PPP Loans

January 14, 2021 2 minute read: Last Friday, the Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) will reopen this week with First Draw PPP loans to be available starting Read More
Democrats Gain Senate, Paving the Way for Biden’s ACA Agenda

Democrats Gain Senate, Paving the Way for Biden’s ACA Agenda

January 12, 2021 3 minute read: The results from last week’s Senate runoff race in Georgia have given Democrats control of the Senate, paving the way for Joe Biden’s presidency and his agenda Read More
The ACA is Central to American Health and Wellbeing

The ACA is Central to American Health and Wellbeing

January 7, 2021 2 minute read: At the dawn of 2021, the Affordable Care Act (ACA) is poised to continue to be central to the health and wellbeing of millions of Americans. A Read More
Employers, Mark These Key 2021 Dates for 2020 ACA Reporting

Employers, Mark These Key 2021 Dates for 2020 ACA Reporting

January 5, 2021 3 minute read: The new year is here, and with it a laundry list of items to be sure your organization has a handle on, including ACA reporting with the Read More
New Individual Mandate Regulations: What You Need to Know

New Individual Mandate Regulations: What You Need to Know

December 30, 2020 3 minute read: The California Franchise Tax Board (FTB) just published Final Regulations on the Individual Shared Responsibility Penalty. The California Individual Mandate, in effect since January 1, 2020, will Read More
Minimize Penalties with ACA Best Practices for the Holiday Season

Minimize Penalties with ACA Best Practices for the Holiday Season

December 28, 2020 3 minute read: With the New Year around the corner, employers should begin preparing their ACA Forms 1094-C and 1095-C if they haven’t already begun to do so. Each year, Read More
The Annual ACA PCORI Fees are Increasing in 2021

The Annual ACA PCORI Fees are Increasing in 2021

December 17, 2020 2 minute read: The IRS has released the PCORI fee for plans that end on or after October 1, 2020 and before October 1, 2021.  For plans that end on Read More
ACA Penalties Among IRS’s Critical Activities

ACA Penalties Among IRS’s Critical Activities

December 14, 2020 3 minute read: On December 1, the IRS announced updates to the services it will be processing as a part of its mission-critical functions. Among the processes are ACA employer Read More
The Most Commonly Asked ACA Reporting Questions, Answered

The Most Commonly Asked ACA Reporting Questions, Answered

December 9, 2020 3 minute read: With less than 30 days left in 2020, employers should begin to prepare their ACA filings with the IRS. Despite ACA reporting having been required for the Read More
Good-Faith No Longer Good Enough to Avoid IRS Penalties

Good-Faith No Longer Good Enough to Avoid IRS Penalties

December 7, 2020 2 minute read: IRS Notice 2020-76 provided for a 30-day extension for the furnishing deadline of IRS Forms 1095-C and extended “Good-Faith Relief” from penalties under IRC Sections 6721 and Read More
Meet These 2021 IRS Deadlines to Avoid ACA Penalties

Meet These 2021 IRS Deadlines to Avoid ACA Penalties

December 3, 2020 2 minute read: Every year Applicable Large Employers (ALEs) must file and furnish their ACA information to the IRS and their employees, respectively. Failing to do so can result in Read More
IRS Issues Final 2020 ACA Forms 1094-C,1095-C, and Reporting Instructions

IRS Issues Final 2020 ACA Forms 1094-C,1095-C, and Reporting Instructions

December 1, 2020 2 minute read: The IRS has released the final versions of the ACA reporting Forms 1094-C and 1095-C, in addition to the reporting instructions for the 2020 tax year, to Read More
Biden’s ACA Enhancements Could Create Challenges For Employers

Biden’s ACA Enhancements Could Create Challenges For Employers

November 24, 2020 2 minute read: President-elect Joe Biden’s term will begin in a few short months and as he promised during his campaign, there will be a number of advancements made to Read More
ACA Employer Mandate Penalties Increasing in 2021

ACA Employer Mandate Penalties Increasing in 2021

November 19, 2020 3 minute read: Earlier this year, the IRS issued the 2021 employer mandate penalties under IRC 4980H(a) and 4980H(b). It should come as no surprise that the penalty amounts have Read More
ACA Likely to Remain Following Supreme Court Oral Arguments

ACA Likely to Remain Following Supreme Court Oral Arguments

November 16, 2020 3 minute read: The Affordable Care Act may have avoided the possibility of being removed once and for all, as the Supreme Court hearing last week suggests. The California v. Read More
Prop 22 has Significant Implications on ACA Healthcare Benefits

Prop 22 has Significant Implications on ACA Healthcare Benefits

November 11, 2020 2 minute read: With everyone’s attention focused on the results of the presidential election, folks may not realize that California Prop 22 will pass. As of November 6, the status Read More
IRS Announces COVID-19 Tax Relief Initiative to Help Taxpayers

IRS Announces COVID-19 Tax Relief Initiative to Help Taxpayers

November 9, 2020 2 minute read: On November 2, 2020, the IRS announced several changes to its collection procedures to assist struggling taxpayers impacted by COVID-19. These changes include: Taxpayers who qualify for Read More
Election Day Recap and Potential ACA Changes

Election Day Recap and Potential ACA Changes

November 4, 2020 3 minute read: Heading into Election Day, a record-breaking one million Americans cast their ballots early, creating a myriad of potential challenges for determining a clear victor in the 2020 Read More
Lower ACA Premiums Heading into Open Enrollment for 2021

Lower ACA Premiums Heading into Open Enrollment for 2021

November 2, 2020 3 minute read: The Healthcare.gov open enrollment period for the 2021 tax year will begin on November 1, 2020, and will run through December 15. Surprisingly, premiums are down and Read More
The New 1095-C Codes for 2020 Explained

The New 1095-C Codes for 2020 Explained

October 29, 2020 2 minute read: We recently covered the ins and outs of the ACA’s Form 1095-C. Now, we will be covering the new codes that are anticipated for the 2020 tax Read More
D.C. Upholds Health Carrier Tax, Supporting ACA Health Exchanges

D.C. Upholds Health Carrier Tax, Supporting ACA Health Exchanges

October 27, 2020 3 minute read: An argument regarding the District of Columbia’s ACA health exchange tax was decided late last month. The decision rules in favor of the tax, supporting state-run health Read More
IRS to Require Reporting of ICHRAs on Tax Forms for 2020

IRS to Require Reporting of ICHRAs on Tax Forms for 2020

October 21, 2020 2 minute read: An Individual Coverage Health Reimbursement Arrangement (ICHRA) can be beneficial for employers and employees alike. According to HealthCare.gov, employers can “control costs by providing defined non-taxed reimbursements Read More
Possible ACA Outcomes If Joe Biden Is Elected in November

Possible ACA Outcomes If Joe Biden Is Elected in November

October 19, 2020 2 minute read: With the 2020 presidential election a few short weeks out, it’s incredibly important that voters understand what Joe Biden versus Donald Trump will do to the ACA Read More
Form 1095-C Deadline Approaching, Employers Avoid Penalties

Form 1095-C Deadline Approaching, Employers Avoid Penalties

October 14, 2020 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, Read More
SCOTUS Nominee & ACA Compliance Complications

SCOTUS Nominee & ACA Compliance Complications

October 12, 2020 2 minute read: With the potential of Trump’s nominee, Amy Coney Barrett, becoming the newest justice on the U.S. Supreme Court in time for the November 10, 2020 hearing on Read More
Employers Must Show Reasonable Cause for Failure to File IRS Forms

Employers Must Show Reasonable Cause for Failure to File IRS Forms

October 7, 2020 2 minute read: The IRS imposes penalties for late filing of Forms 1094-C and 1095-C or for late furnishing of Forms 1095-C under Internal Revenue Code (IRC) Sections 6721 and Read More
Big IRS News Concerning 2020 ACA Deadlines

Big IRS News Concerning 2020 ACA Deadlines

October 5, 2020 2 minute read: The IRS just released very important guidance concerning employers’ obligations under the Affordable Care Act. Notice 2020-76, released October 2, 2020, addresses a broad array of topics Read More
Proposition 22 Will Require Healthcare Subsidies and Reporting

Proposition 22 Will Require Healthcare Subsidies and Reporting

October 1, 2020 2 minute read: Proponents of Proposition 22 have flooded TV airwaves with ads warning against the loss of jobs if Prop 22 does not pass. Prop 22 is a ballot Read More
ACA Expectations Heading into the 2020 Election

ACA Expectations Heading into the 2020 Election

September 28, 2020 3 minute read: As the fourth quarter of 2020 draws near, so does the presidential election. A popular topic of debate to be addressed in the coming election is healthcare, Read More
IRS Releases New ACA Filing Information for the 2020 Tax Year

IRS Releases New ACA Filing Information for the 2020 Tax Year

September 24, 2020 2 minute read: The IRS has published various Affordable Care Act Information Returns (AIRs) documents for the 2020 tax year with which employers will need to familiarize themselves before filing Read More
What You Need to Know About Letter 5699

What You Need to Know About Letter 5699

September 22, 2020 2 minute read: What Is Letter 5699? Letter 5699, Missing Information Return Form 1094/1095-C, is used to make initial contact with an organization that the IRS believes may have been Read More
New IRS Notice Addresses COVID-19, Medicaid, and the ACA

New IRS Notice Addresses COVID-19, Medicaid, and the ACA

September 16, 2020 2 minute read: New IRS guidance addresses the intersection of COVID-19, Medicaid, and the Affordable Care Act (ACA). In a bid to increase COVID-19 testing in the U.S., one facet Read More