IRS ISSUES ACA 2018 FORMS 1094-C AND 1095-C, INSTRUCTIONS, AND 226J FOR 2016

IRS ISSUES ACA 2018 FORMS 1094-C AND 1095-C, INSTRUCTIONS, AND 226J FOR 2016

October 29, 2018 1 minute read: The IRS has released the final 1094/1095-C schedules and reporting instructions for the 2018 tax year, to be filed and furnished in 2019. You can find the Read More
How to Respond to IRS Letter 226J for the 2016 Tax Year [INFOGRAPHIC]

How to Respond to IRS Letter 226J for the 2016 Tax Year [INFOGRAPHIC]

October 22, 2018 1 minute read:  IRS staff has confirmed that the agency will begin issuing Letter 226J penalty notices for the 2016 tax year in the next few weeks. If you receive Read More
These Errors Greatly Determine Your Penalty Assessment in IRS Letter 226J

These Errors Greatly Determine Your Penalty Assessment in IRS Letter 226J

June 25, 2018 3 minute read: The issuance of Letter 226J for IRS information filings submitted for the 2015 tax year has caught many organizations off guard. More than 30,000 notices have been Read More
IRS Provides Guidance on Using Corrected Form 1095-A

IRS Provides Guidance on Using Corrected Form 1095-A

February 14, 2018 If you haven’t filed your taxes yet, then you may have avoided having to file an amended return if you received a corrected 2017 Form 1095-A for the Healthcare Marketplace. Read More
Employees Obtaining Premium Tax Credits Can Trigger IRS Letter 226J for Employers

Employees Obtaining Premium Tax Credits Can Trigger IRS Letter 226J for Employers

February 6, 2018 Individual taxpayers who obtain Premium Tax Credits from the federal government to subsidize health insurance plans purchased on government healthcare exchanges under the Affordable Care Act (ACA) will be filing Read More
IRS Penalties for ACA Non-Compliance Can Be Costly

IRS Penalties for ACA Non-Compliance Can Be Costly

December 13, 2017 The IRS has announced the penalty amounts for companies with 50 or more full-time or full-time equivalent employees that do not comply with the Affordable Care Act (ACA) for the Read More
How to Respond to IRS Letter 226J About Affordable Care Act Penalties

How to Respond to IRS Letter 226J About Affordable Care Act Penalties

November 13, 2017 It’s the letter no one wants to receive. However, its coming and you need to be prepared just in case your company or client receives it. It is Letter 226J, Read More
The IRS Will Start Issuing ACA Penalty Notices in 2017

The IRS Will Start Issuing ACA Penalty Notices in 2017

November 6, 2017 As we reported earlier this year, indications from the IRS pointed to the agency sending enforcement notices by December 2017 to businesses with 50 or more employees – referred to Read More
IRS Extends Voluntary Reporting Of Catastrophic Coverage

IRS Extends Voluntary Reporting Of Catastrophic Coverage

September 21, 2017 The IRS released Notice 2017-41 last month, informing health insurance issuers of further guidance surrounding the reporting of catastrophic plan coverage acquired through the ACA’s Health Insurance Marketplace. It’s the Read More
U.S. Senate Health Committee Works to Reach Consensus With Healthcare Hearings Over

U.S. Senate Health Committee Works to Reach Consensus With Healthcare Hearings Over

September 18, 2017 Can they reach a bipartisan consensus on fixing healthcare? That’s the question now that the U.S. Senate Committee on Health, Education, Labor and Pensions has completed its hearings on stabilizing Read More
Excess PTCs Can Lead To Greater Tax Liability

Excess PTCs Can Lead To Greater Tax Liability

September 14, 2017 The Affordable Care Act (ACA) has made significant strides in making healthcare affordable thanks to subsidies like Premium Tax Credits (PTCs), but that assistance can ultimately affect tax liability. At Read More
Incorrect PTC Calculations Show that Technology Is A Gift and a Curse

Incorrect PTC Calculations Show that Technology Is A Gift and a Curse

September 11, 2017 Over the last two years, the IRS has made some strides in ensuring that certain ACA-mandated processes are as seamless as possible for taxpayers and employers, from streamlining electronic form Read More
The IRS Finalizes Regulations for ACA Premium Tax Credits

The IRS Finalizes Regulations for ACA Premium Tax Credits

July 26, 2017 The IRS on July 24 finalized regulations for the use of premium tax credits. These are the tax credits provided by the Affordable Care Act (ACA) to help lower income Read More
Updated Better Care Reconciliation Act Released

Updated Better Care Reconciliation Act Released

July 14, 2017 The U.S. Senate has released a new, updated draft of the Republican-proposed Better Care Reconciliation Act aimed at winning over Republican Senators who were not enamored of the initially proposed Read More
President Trump’s New Tax Plan May Affect The Health Care Market As We Know It

President Trump’s New Tax Plan May Affect The Health Care Market As We Know It

May 10, 2017 Earlier this month, we learned that President Trump attempted to yet again repeal and replace the Affordable Care Act. This time it worked with the House passing the American Health Read More
How to Successfully Appeal an Exchange Notice from the Healthcare Marketplace

How to Successfully Appeal an Exchange Notice from the Healthcare Marketplace

April 10, 2017 – Op-Ed published on April 7, 2017 on ‘Accounting Today’ – Some companies across the country may have experienced receiving exchange notices from the health insurance marketplace informing them they Read More
Another Attempt to Repeal the ACA in the Foreseeable Future?  Unlikely.

Another Attempt to Repeal the ACA in the Foreseeable Future? Unlikely.

March 29, 2017 It’s been more than seven years since the enactment of the Patient Protection and Affordable Care Act (ACA) and there were some 60 plus attempts to repeal by Republicans during Read More
IRS Extends Transition Relief For QSE HRA Notice

IRS Extends Transition Relief For QSE HRA Notice

March 14, 2017 At the close of February, the IRSreleased a notice regarding qualified small employer health reimbursement arrangement (QSE HRA) notices and an extension until further guidance is provided. These notices are Read More
Employer Reporting Continues Under House Republican Leadership Proposed Bill

Employer Reporting Continues Under House Republican Leadership Proposed Bill

March 8, 2017 On March 6, 2017, the House Leadership recently unveiled its proposed bill called “American Health Care Act.”Among its provisions, the bill calls for termination of the issuance of premium tax Read More
The Reality Of ACA Penalties Post-Repeal

The Reality Of ACA Penalties Post-Repeal

January 20, 2017 As Donald J. Trump officially takes his seat as the 45th President of the United States, we inch closer to the reality of an Affordable Care Act repeal. While the Read More
IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor

IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor

January 12, 2017 The IRS has provided clarity with regard to what qualifies as an “intentional or reckless disregard of facts” by employees when it comes to seeking shelter under the employee Premium Read More
Regardless of Election & Rhetoric, Employers Are Still on the Hook for 2016 ACA Reporting

Regardless of Election & Rhetoric, Employers Are Still on the Hook for 2016 ACA Reporting

December 1, 2016 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 Read More
That Spike In Premium Rates Probably Won’t Affect Your Marketplace Plan

That Spike In Premium Rates Probably Won’t Affect Your Marketplace Plan

November 29, 2016 Fear of premium hikes comes with good reason. As those looking to renew their health plans from the Federal Healthcare Insurance Marketplace Exchange (Federal Exchange) under the Affordable Care Act Read More
ACA Retaliation Claims: The Final Verdict Comes From OSHA

ACA Retaliation Claims: The Final Verdict Comes From OSHA

November 14, 2016 Under the Affordable Care Act, employees unable to afford the minimum essential coverage from employers are possibly eligible for Premium Tax Credits from the Health Insurance Marketplace to assist in Read More
With Trump Election Employers Still on Hook for 2016 ACA Reporting

With Trump Election Employers Still on Hook for 2016 ACA Reporting

November 11, 2016 With 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.” Read More
Know Your Dates Or Face Penalties: An Infographic

Know Your Dates Or Face Penalties: An Infographic

November 10, 2016 We 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 Read More
A Quick Update On The ACA From The ABA’s Health and Welfare Benefit Plans National Institute

A Quick Update On The ACA From The ABA’s Health and Welfare Benefit Plans National Institute

November 2, 2016 On October 6th and 7th, officials from several governmental departments—including the Treasury Department—gathered in Washington, D.C. for the American Bar Association’s (ABA) Health and Welfare Benefit Plans National Institute. Officials Read More
Study Shows Millions Of Uninsured Eligible Americans Are Still Underutilizing The ACA

Study Shows Millions Of Uninsured Eligible Americans Are Still Underutilizing The ACA

October 31, 2016 The Kaiser Family Foundation has released another report surrounding ACA figures, and the results are astounding. In a report of “Estimates of Eligibility for ACA Coverage among the Uninsured in Read More
News From Washington: ACA Has To Tighten Up Pediatric Dental Care

News From Washington: ACA Has To Tighten Up Pediatric Dental Care

October 26, 2016 When it comes to healthcare under the Affordable Care Act, many points of coverage can often be an afterthought. QHPs, or “qualified health plans,” are required to fulfill ten “essential Read More
Updated Forms 1094-C And 1095-C Are Here

Updated Forms 1094-C And 1095-C Are Here

October 24, 2016 The IRS has released the final updated Forms 1094-C and 1095-C,and while there aren’t many modifications, there are some changes of note. As you probably already know, Form 1094-C is Read More
It’s A Brand New Day For Marketplace Notices And Appeals

It’s A Brand New Day For Marketplace Notices And Appeals

October 3, 2016 Over 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 Read More
Late Filers: Is Your Premium Tax Credit In Jeopardy?

Late Filers: Is Your Premium Tax Credit In Jeopardy?

September 28, 2016 For those who received an advance payment for the Premium Tax Credit, yet have extended their 2015 tax return filing or don’t file at all, there’s something you should know. Read More
More Tips On Avoiding Penalties During ACA Information Reporting

More Tips On Avoiding Penalties During ACA Information Reporting

September 27, 2016 Employers 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 Read More
The ACA Brings Another Win To California

The ACA Brings Another Win To California

September 20, 2016 In the 4th Kaiser Family Foundation Longitudinal Panel Survey, some impressive findings surround the state of California. The survey polled a randomly selected pool of uninsured adult Californians and tracked Read More
The ACA Comes Under Fire Again For Allocations Of Funds

The ACA Comes Under Fire Again For Allocations Of Funds

September 19, 2016 Once again furthering the rift between the Democrats’ and Republicans’ respective opinions of the Affordable Care Act, cost-sharing reductions return to question. In a hearing held in July, a representative Read More
The DOs And DON’Ts Of Marketplace Notices

The DOs And DON’Ts Of Marketplace Notices

August 18, 2016 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 Read More
Heads Up About Code 4980H

Heads Up About Code 4980H

August 17, 2016 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 Read More
IRS Update: Premium Tax Credit And Shared Responsibility Payment

IRS Update: Premium Tax Credit And Shared Responsibility Payment

August 4, 2016 New 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 Read More
Marketplace Notices: They’re Not (Always) As Bad As You Think

Marketplace Notices: They’re Not (Always) As Bad As You Think

August 3, 2016 In 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 Read More
ACA Modifications: We’re Not In 2010 Anymore

ACA Modifications: We’re Not In 2010 Anymore

August 2, 2016 When 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 Read More
Don’t Make 2015’s Mistakes In 2016

Don’t Make 2015’s Mistakes In 2016

July 27, 2016 The June 30, 2016 deadline for employers to file their applicable 2015 health care tax return with theIRShas passed.For many employers, the damage is done.Skipped deadlines, misclassifications, and ignoring of Read More
Is Cybersecurity An Issue When Using The ACV? The TIGTA Weighs In

Is Cybersecurity An Issue When Using The ACV? The TIGTA Weighs In

June 29, 2016 The Treasury Inspector General for Tax Administration (TIGTA) released a report highlighting security and testing risks when determining ACA compliance through the IRS’s ACA Compliance Validation System (ACV). Considering the Read More
The 5W’s Of Employer Notices: Don’t Be Penalized

The 5W’s Of Employer Notices: Don’t Be Penalized

June 23, 2016 It’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 Read More
Understanding The Premium Tax Credit

Understanding The Premium Tax Credit

January 19, 2016 If you or anyone in your family enrolled in an Affordable Care Act health insurance plan through the federal Healthcare.gov health insurance marketplace or a state exchange, you may be Read More
Coverage Offer Can Affect Shared Responsibility Payment

Coverage Offer Can Affect Shared Responsibility Payment

September 25, 2015 Under the Affordable Care Act, applicable large employers are subject to the employer shared responsibility provisions. They must either offer affordable minimum essential coverage to full-time employees and their dependents, Read More
Tools to Estimate ACA Fees and Credits

Tools to Estimate ACA Fees and Credits

September 1, 2015 The IRS has developed tools for employers and individuals to estimate their credits and payments related to the Affordable Care Act. The tools, available online, only provide an estimate intended Read More