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Posts Tagged ‘1095-C’

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

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 Payment (aka “Penalty”) notification letter. While some employers have received “non-filing” letters from the IRS already, this letter […]

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Employers hoping for a filing extension for 1095-Cs likely to be disappointed

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 […]

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Affordable Care Act (ACA) Repeal and Replace Efforts – Where are we at? What are Employers to do?

Efforts to repeal and replace the Affordable Care Act (ACA) – also known as Obamacare - have created quite a few shake-ups and discussions these past few months, culminating in the first “real” replacement legislation, named the American Health Care Act (AHCA), being pulled after Republicans were unable to agree on the details. So, for […]

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What Does the ACA Executive Order Mean for Businesses Today?

The intent has been made clear that President Trump intends to repeal and replace the Affordable Care Act (ACA). The Executive Order signed in late January indicates that changes are coming, although it’s still unclear what those changes will mean for business in the future. What is clear is that ACA has not been repealed […]

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Does the good-faith effort reprieve from penalties apply to forms for 2016 filed in 2017?

As employers continue to work through the challenges of complying with the Affordable Care Act, professionals in the industry are reticent to accept anything less than perfection when dealing with IRS regulations. Why? To alleviate any concern about potential penalties due to non-compliance down the road. In Notice 2016-70 dated December 5, 2016, the IRS […]

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HealthBack Strengthens ACA Compliance Efforts With Technology

Specialized staff at HealthBack provide personalized home health services to homebound patients in four states, operating out of 36 branch locations. Nearly 800 employees work across multiple branches and each may work part or full time, hourly or salary, temporary or on call—which creates complications for payroll and Affordable Care Act (ACA) reporting. While it […]

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Employer ACA Penalties Could Reach $31 Billion

Eligible employers may soon face expensive penalties for Affordable Care Act (ACA) noncompliance. Research indicates ACA penalties are going to hurt during the upcoming 2016 tax reporting period. Accenture researchers revealed penalties could be attributed to employers that are “unintentionally non-compliant,” meaning they offer health coverage, but fail to meet IRS reporting requirements. Don’t get […]

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Affordable Care Act Changes, Not A Repeal – Yet

Although there are plenty of headlines suggesting President-Elect Trump could repeal and replace the Affordable Care Act (ACA), it hasn’t happened yet. In the meantime, businesses must continue to comply with the existing legislation. However, the IRS has made a slight change in deadlines and extended the good faith penalty relief to the 2016 information […]

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How to Avoid ACA Penalties and Stay OFF the IRS Radar

Navigating the Affordable Care Act (ACA) can be complicated and confusing for many companies, not to mention distracting. On top of that, there are severe penalties for noncompliance. Your business leaders and accounting team need to stay focused on core business tasks, not wasting time trying to figure out how to stay ACA compliant. ACA […]

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Don’t Trust ACA Compliance To Just Any Software

Maintaining compliance with the Affordable Care Act (ACA) can be challenging, to say the least. Not only is the process of collecting and reporting key information difficult, the mistakes can be costly. Most basic accounting software can’t support the type or volume of data needed to maintain compliance and you certainly can’t trust spreadsheets either. […]

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