Archive: Affordable Care Act

IRS Extends ACA Reporting Deadline

The Internal Revenue Service (IRS) recently issued Notice 2019-63, which, once again, extends the deadline for Affordable Care Act (ACA) reporting requirements under Code Sections 6055 and 6056 . Originally scheduled for January 31, 2020, the deadline for reporting to employees and covered individuals is now March 2, 2020. This extension is automatic, and the […]
December 6, 2019

Deadline for ACA Reporting Extended

The IRS announced (Notice 2018-94) that the deadline for the 2018 reporting requirements under Sections 6055 and 6056 of the Affordable Care Act (ACA) has been extended. This extension is applicable to the distribution of the forms to employees and covered individuals only, not the filing of the forms with the IRS. The deadline for […]
December 7, 2018

IRS Extends Distribution Deadline for Form 1095-C

The Internal Revenue Service (IRS) continues to recognize that the Affordable Care Act (ACA) reporting requirements under Code Sections 6055 and 6056 still pose challenges to both employers and health insurance providers. As a result, IRS Notice 2018-06 was recently released, extending the deadline for reporting to employees and covered individuals from January 31, 2018 […]
January 3, 2018

PCORI Fees Due for Many Health Insurance Arrangements by July 31, 2017

Under the Patient Protection and Affordable Care Act (PPACA), certain types of health insurance arrangements are required to pay a special fee. This fee is called the Comparative Effectiveness Research Fee, also referred to as the PCORI fee, and it will be used to help fund the Patient-Centered Outcomes Research Institute. The types of arrangements […]
July 19, 2017

Is Your IRS Notice Real?

The latest incarnation of aggressive scammers impersonating IRS agents features fake IRS notices arriving by e-mail or snail mail. According to the IRS, the fake notices labeled as “CP2000”, purport to be related to the Affordable Care Act and request information related to 2014. For further details, see the IRS announcement on this topic. The CP2000 […]
October 5, 2016

IRS Provides Penalty Relief to Small Employers Sponsoring Premium Payment Arrangements

The IRS recently released yet another notice (2015-17) related to health coverage reimbursements for small employers. Small employers (those with 50 or fewer employees or full-time employees in 2014) will be glad to know that this new notice actually brings some good news, as the preceding related notices generally have not. Under the Affordable Care […]
February 25, 2015

How to Get Your ACA Tax Credit When You’re a Tax-Exempt Organization

Under the Affordable Care Act (ACA), a small employer can claim a portion of insurance premiums paid as a tax credit. But what do you do if you are a tax-exempt organization? Don’t worry! You can still claim the credit if your organization is eligible. Eligible tax-exempt organizations can claim up to 35% of premiums paid. […]
February 12, 2015

The ACA Health Insurance Mandate for Individual Taxpayers

Beginning January 1, 2014, as a result of Patient Protection and Affordable Care Act (ACA), most individuals are required to have health insurance coverage. The ACA requires that an applicable individual and any dependent must maintain a “minimum essential coverage” (MEC) for each month during 2014. Most individuals who now have coverage through an employer-sponsored […]
January 20, 2015
  • By:
  • Aronson

IRS Releases New Guidance for ACA Compliance

The IRS released fact sheets 2014-09 discussing the Affordable Care Act (ACA) as it pertains to individuals, and 2014-10 discussing the ACA as it pertains to employers.  These fact sheets provide a helpful overview in gaining a broad understanding of essence of the ACA. In short, all individuals, with very limited exceptions, must have insurance […]
November 20, 2014

IRS Releases Draft Forms for ACA’s Coverage Reporting Requirements

One of the fundamental goals of the Affordable Care Act “ACA” is health coverage for all. With that goal comes new reporting requirements for employers and insurance companies offering health coverage. The IRS recently released drafts of the forms that will be used to report 2015 coverage information in early 2016. Employers with more than […]
August 19, 2014