IRS

12 12, 2017

ACA employer compliance enforcement: I received letter 226J from the IRS. How do I respond?

2017-12-12T11:07:20+00:00 December 12th, 2017|ACA Tracking, Reporting Compliance|0 Comments

The IRS has begun notifying employers of ESRPs (Employer-Shared Responsibility Payments), otherwise known as ACA penalties. The first letters, letter 226J, address penalties associated with the 2015 filing year for forms provided to the IRS in 2016. It is important to provide a timely response to this IRS letter. Here are some tips to ensure [...]

12 11, 2017

Have you received an ACA “love letter” from the IRS?

2017-11-21T14:39:57+00:00 November 12th, 2017|ACA Tracking, Reporting Compliance|0 Comments

Content updated on November 11, 2017 *We recommend opening the linked forms in Internet Explorer for proper viewing. As stated back in April of this year, the IRS will begin enforcement of the Affordable Care Act (ACA) any day now. They have now published a draft of the soon to be sent Employer Shared Responsibility [...]

25 10, 2017

Employers hoping for a filing extension for 1095-C’s likely to be disappointed

2017-10-25T09:40:33+00:00 October 25th, 2017|ACA Tracking, Reporting Compliance|0 Comments

In a recent statement from the IRS, it is clear that they have stepped up enforcement of Affordable Care Act regulations. The recent statement reverses a prior practice of accepting individual tax returns which omitted information related to health insurance coverage on line 61 of tax form 1040. For 2017 tax forms, this information will [...]

24 10, 2017

When can I start filing forms 1095-C for my employees?

2017-10-25T09:06:29+00:00 October 24th, 2017|ACA Tracking, Reporting Compliance|0 Comments

UPDATED While this is a pretty straightforward question, the answer is not quite as simple. As a general rule, you can begin filing forms 1095-C once the IRS has released the final version of the form for the filing season. The IRS recently released final copies of the 1094/5 series forms (e.g. 1094-C/1095-C) for tax year [...]

19 09, 2017

2017 Draft Instructions for Forms 1094-C & 1095-C Released

2017-09-19T17:59:09+00:00 September 19th, 2017|ACA Tracking, Reporting Compliance|0 Comments

On September 7th, 2017, the IRS released a draft of the instructions for completing forms 1094-C and 1095-C used by employers to comply with the Affordable Care Act (ACA) reporting requirements to employees and the IRS. Individuals responsible for completing these forms will surely appreciate that there were very few changes identified for 2017 reporting. [...]

5 09, 2017

The ACA Employer Mandate – a refresher PART 1

2017-09-05T19:57:59+00:00 September 5th, 2017|ACA Tracking, Reporting Compliance|0 Comments

All the recent activity around ACA repeal/ replace has created a lot of confusion for employers. The net outcome of this has been…nothing. The ACA - including the employer mandate – stands, at least for the foreseeable future and definitely for 2017. With 2017 tax reporting coming up, now is a good time to recap [...]

15 08, 2017

IRS will not waive penalties for employer mandate under ACA

2017-08-28T10:38:49+00:00 August 15th, 2017|ACA Tracking, Reporting Compliance|0 Comments

In a series of information letters, the IRS has clearly indicated that it won’t waive employer mandate penalties under the Affordable Care Act. For example, in a letter from the IRS to House Representative Bill Huizenga dated April 14, 2017 related to a question from an applicable large employer, it was made clear that the [...]

8 06, 2017

I thought the ACA was getting repealed … what happened?

2017-06-14T11:39:51+00:00 June 8th, 2017|ACA Tracking, Reporting Compliance|0 Comments

Just a couple months ago, you could not watch any major news show without at least some of the show being dedicated to the repeal and replacement efforts of the Affordable Care Act. However, since the passage of the American Healthcare Act (AHCA) by the House of Representatives in early May, the topic of healthcare [...]