It 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 …
Penalties
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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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Affordable Care ActReporting
Know Your Dates Or Face Penalties: An Infographic
by Robert Sheenby Robert SheenWe are nearing the end of the 2016 tax year, and with it comes the inevitable document filings come early 2017. As per the ACA, many key dates are mandated …
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ACA CompliancePenalties
ACA Employer Mandate Penalties Over The Next Ten Years Projects Billions
by Robert Sheenby Robert SheenACA, compliance is serious business. Failure to comply with the requirements and deadlines set forth by the Affordable Care Act can lead to big penalties. These penalties are so big, …
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Affordable Care ActIRS
How To Deal With An IRS Incorrect TIN Notification: The DO’s And DON’Ts
by Robert Sheenby Robert SheenWhen it comes to employee TINs, some errors seem inevitable, but they don’t always mean what they seem. As an Applicable Large Employer (ALE), it is your duty in accordance …
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Affordable Care ActAIR
AIR Errors And Missing TINs: A Tip Sheet On Quick Fixes
by Robert Sheenby Robert SheenThe electronic system for information reporting under the Affordable Care Act is not without its glitches. We know this by now, and in the midst of 2015 information reporting this …
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Affordable Care ActPenaltiesReporting
Potential ACA Penalties: An Infographic
by Robert Sheenby Robert SheenAre you aware of the myriad of possible unnecessary penalties that can occur with violations of the Affordable Care Act? By now you’ve been informed of various possibilities, but they …
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Affordable Care ActHealth Care Coverage
Iowa Takes A Big Step Toward Small Business Health Care For Employees
by Robert Sheenby Robert SheenIt hasn’t been the easiest task getting small businesses on board for healthcare, as money can be an issue. The Health Reimbursement Arrangement (HRA) allows small businesses to reimburse employees …
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ACA ComplianceHealth Insurance Marketplace
It’s A Brand New Day For Marketplace Notices And Appeals
by Robert Sheenby Robert SheenOver the course of the year, many employers participated in a widespread panic over notices mailed to them from the ACA’s Health Insurance Marketplace. These notices summarized that an employee …
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ACA Compliance
More Tips On Avoiding Penalties During ACA Information Reporting
by Robert Sheenby Robert SheenEmployers have lost a significant margin of error when it comes to ACA information reporting in 2016. As previously discussed, as the good faith standard for incomplete or inaccurate reporting …
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The IRS has revealed some more drafts for their 2016 reporting forms, and already things have changed. You may recall in an earlier ACA Times article where the topics of …
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Affordable Care ActPenaltiesRegulations
ACA Penalties For Missing Information? Maybe Not, If You Act Responsibly
by Robert Sheenby Robert SheenAt the close of July, the IRS issued proposed regulations around the filing of forms 1094 and 1095. Under IRC 6055, certain large employers must file information returns 1094 and …
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Employers were given a gift of sorts from the IRS and the ACA when extensions for paper filings were extended to 5/31/16 and electronic filings were extended to 6/30/16. Perhaps …
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By the time July kicked off, many employers received notices from the Health Insurance Marketplace aka “the Exchange,” provided by the Affordable Care Act where individuals and families can obtain …
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One of the most talked about issues regarding employers and health care for their employees is under Internal Revenue Code 4980H. This Code, being Shared Responsibility for Employers Regarding Health …
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Affordable Care ActPenalties
SBA Posts New Interim Rule on SBA Loan Review Decisions Under the Paycheck Protection Program (PPP)
by Robert Sheenby Robert SheenPenalties are no joking matter when it comes to employers and the Affordable Care Act. A slip up in paperwork, negligence in reporting, or not offering minimum essential coverage to …
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Affordable Care ActAIR
Breathe A Sigh Of Relief: AIR Is Still Available
by Robert Sheenby Robert SheenMany employers have struggled with their health care information reporting for the 2015 tax year. Those difficulties include confusing forms, tedious reporting processes, and technological setbacks. While penalties are perhaps …
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Affordable Care ActForm 1095-CHealth Care Coverage
Understanding Form 1095-C And What To Do About Errors
by Robert Sheenby Robert SheenFor many employers,Form 1095-C is a new document. It is the Employer-Provided Health Insurance Offer and Coverage form, used to report that you have offered health care to full-time employees. …
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Affordable Care ActPremium Tax CreditRegulationsShared Responsibility Payment
IRS Update: Premium Tax Credit And Shared Responsibility Payment
by Robert Sheenby Robert SheenNew regulations have arrived for the ACA’s Premium Tax Credit and Shared Responsibility Payment provisions. For the 2015 tax year, many employers and employees encountered difficulties with regard to the …
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Affordable Care ActHealth Insurance Marketplace
Marketplace Notices: They’re Not (Always) As Bad As You Think
by Robert Sheenby Robert SheenIn May, the ACA Times released an article detailing what exactly a notice from the Health Insurance Marketplace entails. As previously stated, this notice is to inform employers that one …
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Affordable Care ActHealth Care CoveragePenalties
ACA Modifications: We’re Not In 2010 Anymore
by Robert Sheenby Robert SheenWhen the Affordable Care Act (ACA) was first enacted in 2010, it was with the understanding that changes would be made to the ACA after the fact. Health care reform …
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Affordable Care ActHealth Care Coverage
Understanding Economic Realities Testing With Employee Misclassification
by Robert Sheenby Robert SheenThe roles of independent contractors and full-time employees were often ambiguous in the past, as arguably employers’ means of classification relied in how the job was done versus who was …
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AIRTax Filings
It’s Deadline Day! File Your Health Care Forms Or Face A Penalty
by Robert Sheenby Robert SheenWe’ve finally reached this point. Today (June 30). If you’re self-insuring your employees, then you must also file forms 1094-B and 1095-B. If filed incorrectly, penalties will follow. It’s a …
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Affordable Care ActAIRPenaltiesRegulations
Demystifying “Good Faith” And “Reasonable Cause”
by Robert Sheenby Robert SheenIt was just a week ago that the IRS held their Affordable Care Act Information Returns Program (AIR) meeting, and with it came the annual publication (1586) highlighting several procedures …
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ACA AuditACA CompliancePenalties
To Audit Or Not To Audit: How An ACA Audit Can Save Your Company’s Pockets
by Robert Sheenby Robert SheenIt feels like the year of penalties for employers this tax season, primarily those classified by the ACA for an Applicable Large Employer (50+ full-time equivalents). This is due largely …
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Affordable Care ActHealth Care CoveragePenalties
The 5W’s Of Employer Notices: Don’t Be Penalized
by Robert Sheenby Robert SheenIt’s notice season! As an employer, you may have received a letter regarding the health care coverage of one or more of your employees. Could this notice lead to penalties …
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Affordable Care ActHealth Care CoverageIRS
Reporting Deadlines Extended
by Robert Sheenby Robert SheenThe IRS has extended by almost two months the due date for providing employees with Affordable Care Act information forms, and provided an extra three months for filing the required …
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Affordable Care ActApplicable Large Employer (ALE)IRSPenalties
“Pay or Play” Penalties For 2015 and 2016
by Robert Sheenby Robert SheenThe IRS has announced the 2015 and 2016 “pay or play” penalties, adjusted for inflation, that may be imposed on employers who fail to comply with the Affordable Care Act’s …
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Penalties in sections of the Internal Revenue Code relating to the failure to timely file correct and complete information in a return as well as the failure to timely distribute …