Proposed Rule Would Extend ACA Reporting Furnishing Deadlines
On Nov. 22, 2021, the IRS released a proposed rule that would extend the annual furnishing deadlines for Sections 6055 and 6056 reporting under the Affordable Care Act (ACA). This …
IRS Releases Final Forms for ACA 2020 Reporting
The Affordable Care Act (ACA) created reporting requirements under Code Sections 6055 and 6056. Under these rules, certain employers must provide information to the IRS about the health plan coverage …
ACA Pay or Play Penalties Will Increase for 2021
The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees or pay a penalty. This employer mandate provision is …
Calculating and Claiming the Small Employer Health Care Tax Credit
The Affordable Care Act (ACA) added Section 45R to the Internal Revenue Code (Code) to create a tax credit for eligible small employers that provide health insurance coverage to their …
CADILLAC TAX AND OTHER KEY ACA TAXES REPEALED
On Dec. 20, 2019, President Trump signed into law a spending bill that prevents a government shutdown and repeals the following three taxes and fees under the Affordable Care Act …
