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Posts Tagged ‘penalties’

IRS will not waive penalties for employer mandate under ACA

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 […]

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ACA Penalties Are Coming

The political climate what it is, many employers have been holding out hope for penalty relief for not offering coverage, not offering affordable coverage and for not filing the necessary ACA forms with the IRS. The most recent legislation that was pulled for consideration in the House of Representatives would have provided relief to employers […]

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Are Employer Reporting Requirements Going Away With Repeal & Replace?

Many employers are hanging their hat on the employer reporting requirements (i.e. Form 1095-C) going away under the changes proposed by the Trump Administration. The current legislative proposal in the American Healthcare Act (AHCA) repeals the employer mandate to offer coverage. So under this proposal, the employer doesn't need to report information to the IRS […]

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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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Employers will NOT get a free pass on 2016 ACA Reporting

What a week! The election of Donald Trump as our next president has already raised some questions around what happens to the Affordable Care Act, specifically the Employer Mandate. Many have started speculating on what may happen. Suffice to say that the possibilities are endless and nobody really knows what can or will happen. Here […]

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If I Close My Eyes, Will ACA Compliance Go Away?

As a business owner – or a compliance manager who reports to a business owner – you may be hoping that all must-dos for the Affordable Care Act (ACA) would just go away. With so much talk all along about repeals and because the recent federal budget deal did just repeal one (small) part of […]

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Everything a Not-For-Profit Needs to Know About Affordable Care Act Reporting

Time is running out for not-for-profits to determine how they will report information for the Affordable Care Act (ACA). Many not-for-profits are at a higher risk for ACA penalties because they employ many part-time, seasonal or low-wage workers. Any organization that has 50 or more full-time equivalent employees must report to the IRS or face […]

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