Recently, employers were asked which part of the ACA they most want to see changed. And in what’s likely to be a surprise to many, the No. 1 answer wasn’t the employer mandate.
The IRS recently announced an extension of due dates for information reporting requirements both for filing with the IRS and for providing forms to individuals under the Affordable Care Act (ACA) for health insurance carriers, self-insured employers and payroll service providers. For these filers, the due date extension provides additional time to compile the required information, as well as to furnish and file the ACA reporting forms for the 2015 calendar year.
The deadline for filing 2015 Form 1095-C (offer of health coverage) and Form 1095-B (report of health coverage) has been extended from February 1, 2016 to March 31, 2016. In addition, the deadline for submitting electronic 2015 Forms 1094-C and 1094-B (employer transmittal forms) has been extended from March 31, 2016 to June 30, 2016. If not filed electronically, the deadline has been extended from February 29, 2016 to May 31, 2016.
The law requires you and your dependents to have health care coverage, an exemption, or make a payment with your return. If you purchased coverage from the Health Insurance Marketplace, you may be eligible for the premium tax credit.
(For healthcare coverage options, visit the marketplace at https://www.healthcare.gov/).
New Tax Penalty on Small Business Health Insurance
Affordable Care Act , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns , Business - Management, Issues & ConcernsBy Howard Kass, CPA, CGMA, AEP®
Partner
The Supreme Court Ruling on ACA Subsidies: What does this mean?
Affordable Care Act , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns
With the ACA subsidy access remaining available in all states, does this affect you or your business?
On June 25th The United States Supreme Court issued their ruling on the King vs. Burwell case, upholding the government subsidies as provided in the Affordable Care Act (ACA). This case was based on wording in the ACA that could be interpreted two ways.
Affordable Care Act – Key Changes for 2014 & 2015 Tax Years
medical , Affordable Care Act , Taxes - Planning, Rules and ReturnsPosted by: Richard Huszai, CPA
Large Employer Penalties (50 or more FTE’s):
Employee Affordable Care Act Penalty
Affordable Care Act , HRA , Taxes - Corporate & Business , Taxes - Planning, Rules and ReturnsPosted by: DeAnna Alger, CPA
Have Nagging Financial Questions?
