IRS Resumes Sending Out ACA Penalty Notices for 2015

The Internal Revenue Service (IRS) has begun issuing new Affordable Care Act (ACA) penalty notices for calendar year 2015. The notices are officially called Employer Shared Responsibility Payment (ESRP) notices, or what the IRS refers to as Letter 226-J. Under the ACA, Applicable Large Employers (ALEs), generally those companies with 50 or more full-time employees […]

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IRS Allows Provisional Relief for Small Business Health Insurance Tax Credit

The Internal Revenue Service has issued guidance that provides relief for certain small employers who wish to claim the Small Business Health Care Tax Credit for 2017 and later years but  whose businesses reside in counties with no Obamacare small business health insurance available. The Small Business Health Care Tax Credit can benefit certain small employers who […]

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IRS Issues FAQs on Paid FMLA Leave

The Tax Cuts and Jobs Act of 2017 opened a two-year window, from Jan. 1 this year to Dec. 31, 2019, for qualifying companies to receive a tax credit if they offer paid Family and Medical Leave Act (FMLA) time off. This month the IRS issued a set of FAQs to help explain how the […]

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IRS Releases Withholding Tax Tables for 2018

The Internal Revenue Service has released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law. […]

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IRS Extends Deadline for Furnishing Form 1095-C to Employees

The IRS has extended by 30 days the deadline for providing Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to each employee. The new deadline is March 2, 2018, replacing the original Jan. 31 deadline. Form 1095-C affects Applicable Large Employers (ALEs), those with 50 or more employees, who are mandated to provide essential health benefits. […]

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Obamacare Employer Mandate Penalties Arrive in the Mail

The individual mandate of the Affordable Care Act (ACA, aka Obamacare) may be expiring — in 2019 — but the employer mandate is alive and well, and companies were sent notices in November advising them of any violations and the consequent tax penalty due. According to the employer mandate provision, companies with 50 or more […]

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IRS to Start Issuing Obamacare Penalty Letters to Employers Next Month

President Trump may be beating the drum to end the Obamacare individual mandate with looming tax reform legislation (to little avail so far), but the Internal Revenue Service (IRS) is already gearing up to enforce both that mandate and the employer shared responsibility mandate for businesses with 50 or more employees. The agency announced it […]

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4 Million Paid Average of $708 in Obamacare Penalties in 2016

The Internal Revenue Service (IRS) reports that 4 million Americans paid an average of $708 for not having health insurance in 2016 — what the IRS terms the Individual Shared Responsibility Payment (ISRP). The average is just over the base penalty of $695 imposed for a whole year without coverage. Interestingly, 22.6 million others filed for exemptions […]

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IRS Says It Will Continue to Enforce ACA Mandates, Fines for Non-Compliance

The Internal Revenue Service (IRS) recently issued four letters emphasizing that the employer shared responsibility and individual mandate provisions of the Affordable Care Act (ACA) are still the law of the land and will be enforced. In the two years since businesses had to start filing reports on the health insurance, or lack thereof, they […]

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Post-Trump, the IRS Will Allow Tax Returns that Are ‘Silent’ about Health Insurance

With the passage of the Affordable Care Act (ACA) in 2010, the IRS was tasked with exacting monetary fines on individual taxpayers who do not have health insurance for the full time of the reporting period, generally a calendar year. The ACA, under a provision known as Individual Shared Responsibility, even established an escalating scale […]

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