Category: "ACA/Health Care Reform"
ACA Employer Reporting Compliance — Part 2
18 August, 2015
Estimated time to read: 2 minutes, 45 seconds
Part 1 introduced some of the challenges of the reporting requirements. The Affordable Care Act (ACA) requires employers to report information about the offer of health insurance coverage to their employees. Some Applicable Large Employers (ALEs) — defined as those with more than 50 full-time equiv...
ACA Employer Reporting Compliance — Part 1
10 August, 2015
Estimated time to read: 2 minutes, 30 seconds
The employer reporting requirements of the Affordable Care Act (ACA) continue to challenge and confuse many of those who must comply. The law empowers the IRS to verify and enforce that large employers have offered their employees affordable health insurance plans with at least minimal essential co...
Cadillac Tax Implementation is Full Steam Ahead
05 August, 2015
Estimated time to read: 1 minute, 15 seconds
One of the few remaining Affordable Care Act (ACA) requirements is a 40 percent excise tax on employer-sponsored health insurance coverage that exceeds specified threshold amounts. Also known as the Cadillac tax, it becomes effective in 2018 and is expected to be a major source of revenue. As a fol...
Increased Penalties for Failing to File Information Returns
15 July, 2015
Estimated time to read: 45 seconds
While we already knew there would be penalties for failing to file IRS forms 1094 and 1095, the recently enacted Trade Preferences Extension Act of 2015 revised Section 6721(a)(1) of the Internal Revenue Code, providing penalty increases, making it more painful should an employer fail to file in a t...
Where’s the Process? ACA-style
30 June, 2015 | 2 Comments
Estimated time to read: 1 minute, 45 seconds
You remember the question from the Wendy’s commercial in the 80’s, don’t you? Where’s the beef? It has been stuck in our head for decades. Now that the deadline for the ACA IRS reporting is looming, everyone seems to be asking “Where’s the process?” It may or may not have occurred to the IRS tha...