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Archive by author: Kim PhillipsReturn
Questions and Answers on the Individual Shared Responsibility Provision
As a provider of millions of ACA 1095 Forms, we are often asked "if the employee must have a copy of this ACA Form 1095 to file their federal income tax return?" The IRS has finally answered the question, NO. The Form 1095 is not needed to file Form 1040. In fact there is no longer even a place on the 1040 to provde any information on the individual mandate. THE BOX IS GONE!
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ACA Reporting Extension.. Whew!

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ACA Reporting Extension.. Whew!
The IRS has, as in the past, come out with a little breathing room for employers required to prepare ACA Forms. In Notice 2019-63, the IRS provided additional reporting relief for employers for the 2019 calendar year.
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| Categories: Penalties, 1095C, 1095B, Employer Mandate | Tags: | View Count: (319)
Employer Obligations Under State Individual Health Care Mandates
In Brief: New Jersey employers and out-of-state employers that withhold and remit New Jersey Gross Income Tax for New Jersey residents must submit returns to the state and distribute statements to employees in early 2020.
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| Categories: 1095C, 1095B | Tags: New Jersey Individual Mandate , ACA , NJ Dores , NJ MFT | View Count: (553)
ACA PENALTY UPDATE: IRS ISSUING 972CG NOTICES FOR LATE FILING
The IRS has begun issuing Notice 972CG, a penalty notice regarding late filings of Forms 1094 and 1095 for Tax Year 2017. The notices also include penalties for unresolved TIN validation errors and for not filing returns electronically if you filed more than 250 forms on paper.
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| Categories: Penalties, Tax Year 2017, Tax Year 2018, 226J, Employer Mandate | Tags: | View Count: (1184)
ACA Update: IRS Releasing Tax Year 2017 Penalty Notices
The IRS recently began issuing Penalty Notices for TY2017. Employers have begun receiving Letter 5699 'Failure To File' Notices.
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| Categories: Penalties, Tax Year 2017, 226J | Tags: | View Count: (308)
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