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Archive by category: Tax Year 2017Return
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: (296)
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: (168)

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: (2216)
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: (956)

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: (1142)
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