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Archive by category: PenaltiesReturn
IRS Issues Extension For Furnishing Forms 1095-B/C and Reinforces Good Faith Transition Relief
The IRS has issued Notice 2018-94 extending the due date for the 2018 1095-B and 1095-C forms to be sent to employees from January 31, 2019 until March 4, 2019. However, the Notice also confirms that the due date for filing those same 1095 Forms with the IRS remains the same: February 28, 2019 if filing paper copies or April 1, 2019 if filing electronically. The notice also extends the good faith transition relief for ACA Reporting. 
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| Categories: Compliance TY2018, IRS AIR eFiling , Penalties, Tax Year 2018, 1095C, 1095B, Employer Mandate | Tags: | View Count: (151)
IRS Issues Thousands of Letter 5699 Notices with Millions of Dollars in Potential Penalties
Many employers have received IRS Letter 5699 over the last several weeks. Letter 5699 is being issued to employers whom the IRS has deemed may be an Applicable Large Employer (ALE) for purposes of compliance with the Affordable Care Act (ACA), and the IRS has no record of their 1094 and 1095 forms for a Tax Year since 2015.
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| Categories: IRS AIR eFiling , ACA Compliance TY16 , Penalties, Tax Year 2017, Tax Year 2018, Compliance TY2018, Employer Mandate | Tags: | View Count: (248)
US Businesses Face Increased IRS Penalties Next Year
The IRS has released the employer penalties for non-compliance with the ACA for Calendar Year 2018.
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| Categories: IRS AIR eFiling , Penalties | Tags: | View Count: (110)

Misconceptions About the ACA

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Misconceptions About the ACA
Healthcare is consistently identified as one of the top 2 or 3 issues in the USA according to many polls. Healthcare is at or near the top of most employers Human Capital Management agendas as well.
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| Categories: IRS AIR eFiling , Penalties | Tags: | View Count: (123)
Employers, Brokers, Consultants and Tax Professionals: Billions of Dollars in Tax Year 2016 Penalty Notices are Coming
Earlier this year the Treasury Inspector General for Tax Administration’s (TIGTA) report on the Affordable Care Acts stated that the IRS now has the data to begin calculate the potential penalties for Tax Year 2016 to be assessed against those organizations determined to be non-compliant with the ACA. Expect the number of Letter 226J notifications and associated penalties to be greater and larger than what we have seen so far. Tax Year 2017 notices will be on the heels of the 2016 notices. A re...
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| Categories: Penalties | Tags: penalty , penalty assessment , ty2018 , aca , aca compliance | View Count: (153)
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