ACA Tracking, Reporting Compliance

28 12, 2017

IRS Extends 1095-C Reporting Deadline and Good Faith Transition Relief

2018-01-09T14:20:40+00:00 December 28th, 2017|ACA Tracking, Reporting Compliance|0 Comments

Right before the holiday weekend, the IRS released Notice 2018-06: a nice last minute holiday gift for employers. Let’s break it down: The due date for providing Forms 1095-C to employees is extended 30 days to March 2, 2018 The ACA employer mandate – which remains as is despite the new tax law – requires [...]

26 12, 2017

Don’t let the new tax plan fool you: ACA employer mandate remains intact

2017-12-28T10:54:31+00:00 December 26th, 2017|ACA Tracking, Reporting Compliance|0 Comments

Despite the administration touting that the new Tax Cuts and Jobs Act “essentially” repeals the health law, this is not the case. Let’s separate fact from fiction: Employer Mandate stands Employer obligations remain unchanged. What is NOT going away as part of this new law: The ACA employer mandate (and the enforcement of that mandate): [...]

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 [...]

28 11, 2017

ACA Filing: The Big Difference Between Filing Late and Intentionally Disregarding ACA Reporting

2017-11-28T15:25:51+00:00 November 28th, 2017|ACA Tracking, Reporting Compliance|0 Comments

While the current administration continues to push to dismantle the Affordable Care Act (ACA), they haven’t made much progress. The IRS hasn’t imposed any non-compliance penalties over the course of these last two years ACA has been in place either. So, that begs the question, should businesses even give ACA compliance a second thought? Besides [...]

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-Cs likely to be disappointed

2018-01-09T14:26:54+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 [...]