What You Need to Know About IRS Letter 5699
Looking for ways your company can potentially save hundreds of thousands of dollars? The IRS has recently handed it to you with their recently released IRS Letter 5699, also known as the “Missing Information Return Form 1094/1095-C.” It’s your wake-up call to either get your information… Read More
The ACA, Seasonal Workers, and You
Summer is upon us and with it a number of annoyances. Mosquitos. Road construction. And those pesky Affordable Care Act (ACA) compliance responsibilities that tend to slip during summer months following the push to submit annual ACA information filings to the IRS. Read More
Breaking down the complexity of ACA’s Rule of Parity
While the Affordable Care Act’s Employer Mandate is likely very well known (if not well loved) by employers, many are unaware of the ACA’s Rule of Parity, which offers some relief from the Employer Mandate by providing an important exception. The Affordable Care Act, also known… Read More
Submit ACA Corrections Now to Avoid IRS Penalties
The deadline for electronically filing ACA forms 1094-C and 1095-C for the 2022 tax year was March 31. Did you make the deadline? If you did, were all your submissions correct and accepted? If not, you may need to submit ACA corrections for the 2022 tax… Read More
IRS Using Levy Power to Collect ACA Penalties
It’s true the 2022 ACA reporting season deadlines have passed, but that doesn’t mean it’s the end of the ACA compliance efforts and ACA penalties. As we’ve previously communicated, IRS enforcement of the now 13-year-old healthcare law is ramping up, thanks in part to a series… Read More
Navigating ACA Full-Time Employee Rules
ACA Full-Time: What is it and Why Does it Matter? What constitutes a full-time employee under the ACA? The answer is not as simple as it seems. And getting your full-time employee count right matters because it determines Applicable Large Employer (ALE) status, a necessary step for understanding the requirements… Read More
What you Need to Know About IRS Letter 5699 (Update)
Now that the IRS received an influx of resources, including $80 billion in funding and 87,000 new tax agents, employers should keep their eyes peeled for the ACA warning notice, Letter 5699. It’s in every organization’s best interest to… Read More
ACA Measurement Methods Are Critical for Avoiding IRS Penalties
If you or someone you know has been hit with IRS Letter 226J, you know that it is no laughing matter. The IRS is currently issuing these ACA penalty assessments to employers identified as having failed to comply with the ACA’s… Read More
What Employers Need to Know About the California Individual Mandate
Employers with operations in California should be familiar with the state’s Individual Mandate and the additional ACA reporting requirements, as they have been in effect since 2020. Still, organizations are oftentimes slow to adapt to new changes, and since the California Franchise Tax Board (FTB) is… Read More
The Look-Back Measurement Method Can Prevent ACA Penalties
Determining the accurate full-time employee count during a calendar year is important for ACA compliance. Getting it wrong can lead to inaccurate annual information filings with the IRS and subsequently lead to penalty assessments from the agency. When determining if employees are full-time under the ACA,… Read More