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Archive by category: Tax Year 2017Return

Understanding Your Letter 227

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Understanding Your Letter 227
Experts estimate over 30,000 Letter 226J penalty letters have been sent to employers by the IRS. IRS Letter 227 is the key to understanding the IRS response to your attempt to avoid a penalty.
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| Categories: Penalties, Tax Year 2017 | Tags: Letter 226J , Letter 227 , ACA Compliance , IRS Regulations , Affordable Care Act , 1095 , 1094 | View Count: (98)
3 Big Reasons to Distribute Form 1095-B/C Weeks Before the March 2nd Deadline Extension
As an Applicable Large Employer, the IRS requires you to distribute Form 1095-B/C to your Full Time employees by the recently extended deadline of March 2nd, 2018. Prior to the extension, the original deadline set by the IRS for Form distribution was January 31st, 2018. The BenefitScape team recommends delivering the Forms to employees as close to the original deadline for the following reasons:
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| Categories: Penalties, Tax Year 2017 | Tags: 1095 , TY2017 , Extension , ACA Compliance and Reporting | View Count: (784)

Legal Update: EMAC & HIRD

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Legal Update: EMAC & HIRD
Massachusetts' new and increased EMAC Assessments are beginning January 1st, 2018 and ending December 31st, 2019. Fiscal Year 2018's budget-related legislation temporarily increased an existing employer fee known as the Employer Medical Assistance Contribution (EMAC) and also created a new, temporary, 5% assessment on employers to help offset a projected future $600 million shortfall in the MassHealth program.
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| Categories: Tax Year 2017 | Tags: EMAC , HIRD , ACA Compliance , TY2017. | View Count: (879)
Tax Year 2017 ACA Compliance and Reporting: Strict Compliance Replaces Good Faith
Is it time to stop swimming with the school and engage the services of an ACA Specialist? Given all the confusion surrounding ACA legislation many employers may not have taken the steps to ensure that the vendors they are using are in strict compliance. At BenefitScape, we have always held our filings to this standard.
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| Categories: Tax Year 2017 | Tags: ACA Compliance , 1095 , PPACA , IRSAIR | View Count: (832)
ACA Compliance Matures as a Tax Filing Process and How BPaaS Helps
ACA compliance is both a new topic and one that has been stalled by continuous political debate. In fact, it is a complex important IRS tax filing that needs to be taken seriously and is subject to review audit and substantial penalties this white paper will outline a very viable solution referred to as BPaaS, or Business Process as a Service, that provides up-to-date information, analysis and business process available from the cloud, using only a web browser on an extremely economical basis.
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| Categories: AIR XML Requirement, IRS AIR eFiling , Tax Year 2017 | Tags: | View Count: (890)
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