IRS Penalties are Here!  Are you prepared? Try our Free Audit.
Don't get caught by surprise...Do you know if you have a potential penalty in connection with the ACA? The IRS has issued over 33,080 penalty notices related to Tax Year 2015 totaling over $4.49 Billion, and there is a lot more to come. We can help. Let BenefitScape Audit your filing to see if you have a potential Penalty - it's FREE and painless.
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| Categories: IRS AIR Tax Year 2015, Penalties | Tags: Letter 226J , Penalties , TY2015 , IRS ACA , 226J , Tax Year 2015 , ACA | View Count: (790)

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: (1186)
State Initiatives Signal a Shift in the Health Care Battle from Capitol Hill to the States
New Jersey, Vermont and Massachusetts are among first to take steps to shore up their Medical Care expenditures
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ACA Reporting Penalties for Errors & Failure to Comply
Tax year 2017 has been a turbulent year for the affordable care act with significant legislative and administrative challenges. Nevertheless the IRS requires reporting both to employees in the form of 1095C and in many cases electronic filing with the IRS. Failure to meet these requirements carries extremely steep penalties and should be avoided at all costs.
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Massachusetts requires new healthcare reporting for 2018
Massachusetts Governor Charles Baker signed into law a supplemental budget bill which included a requirement that employers file a healthcare coverage form commencing in 2018. The form must be completed and submitted under oath annually by any employer with 6 or more employees in Massachusetts; and it must disclose whether the employer has offered to pay or arrange for the purchase of health care insurance. If so, the form must include information about premium costs, benefits offered, cost shar...
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