IRS Memorandum Sheds Light on Taxability Of Benefits Paid by Self-Funded Health Plans

IRS Memorandum Sheds Light on Taxability Of Benefits Paid by Self-Funded Health Plans

July 13, 2017 Many employers which provide self-funded healthcare for their employees have taken to covering the cost of employee participation in associated wellness plans. It’s a practice the IRS is well aware Read More
Businesses Need to Make Affordable Care Act Filings with the IRS by March 31 or Request an Automatic Extension

Businesses Need to Make Affordable Care Act Filings with the IRS by March 31 or Request an Automatic Extension

March 27, 2017 Some businesses may have suffered from wishful thinking when the legislation to repeal and replace the Patient Protection and Affordable Care Act (ACA) was proposed by Speaker Ryan and trumpeted Read More
The IRS Won’t Reject Returns Without Healthcare Reporting, But You May Be Penalized

The IRS Won’t Reject Returns Without Healthcare Reporting, But You May Be Penalized

March 2, 2017 As we settle into the heart of tax season, the IRS has some new updates regarding how healthcare is reported on tax returns. The Affordable Care Act mandates individuals to Read More
Form 1095-B Has Been Updated For the 2016 Tax Year

Form 1095-B Has Been Updated For the 2016 Tax Year

December 29, 2016 The IRS has been updating several forms for the 2016 tax year. We’ve seen the final updated Forms 1094-C and 1095-C. Form 1095-B has also seen some changes. The Form, Read More
ACA Compliance Difficulties? The 1940’s Started it All.

ACA Compliance Difficulties? The 1940’s Started it All.

November 5, 2016 This past tax year, many employers experienced a whole new dimension to documenting and reporting information about their employees to the government. With the Affordable Care Act mandating that full-time 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
It’s Deadline Day! File Your Health Care Forms Or Face A Penalty

It’s Deadline Day! File Your Health Care Forms Or Face A Penalty

June 30, 2016 We’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 Read More
$11 Billion in Credits Paid During Filing Season

$11 Billion in Credits Paid During Filing Season

September 3, 2015 Consumers who bought individual health insurance coverage through federal and state exchanges received almost $11 billion in premium assistance tax credits in fiscal year 2014, according to a report by Read More