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Monthly ACA Compliance Can Help Employers Avoid IRS Penalties

ACA Times

4 minute read: As the IRS begins rolling out a new round of ACA penalty notices this month, we can’t stress enough how important it is to assess your compliance with the ACA on a monthly basis to optimize your compliance process. It’s on a month-to-month basis that the IRS determines penalty assessments for ACA non-compliance.

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Monthly ACA Compliance Can Help Employers Avoid IRS Penalties

ACA Times

4 minute read: As the IRS rolls out Letter 226J penalty notices for the 2017 tax year, those of you who have a monthly compliance process in place to address your organization’s responsibilities under the Affordable Care Act should be glad you took the time to put such a process in place.

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Is the EU Pay Transparency Directive the Future for US Pay Equity?

Trusaic

The EU Pay Transparency Directive has the potential to become a blueprint for the US at the federal level, as well as for global pay equity laws. Employers are required to report on their gender pay gap by 2026 for organizations with more than 250 employees, and by 2031 for companies with 100 or more employees.

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Suggestions on Responding to IRS 6721/6722 ACA Penalties

ACA Times

By the year 2026, the IRS is expected to issue more than $228 billion in penalty assessments for ACA non-compliance. If penalties are assessed for failure to file with the IRS or furnish 1095-C forms to employees, employers will need receipt IDs, time stamped returns, as well as legitimate reasons for why deadlines were not met.

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Tax Season 2024: 7 Tips for Small Business Owners

Extensis

The rates for medical transportation or moving purposes for qualified active-duty members of the armed forces, as well as miles driven in service of charitable organizations , remain the same as in 2022, at 22 cents and 14 cents per mile, respectively. Act tax credits SECURE Act 2.0

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Congressional Budget Office Expects Health Insurance Premiums to Increase

ACA Times

The Effects of Terminating Payments for Cost-Sharing Reductions is an analysis done by the CBO and the Joint Committee on Taxation to estimate the impact to the federal budget, health insurance coverage, market stability, and health insurance premiums if CSR payments ended after December 2017. For questions about the ACA contact us here.

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IRS Limiting Length of Extensions for Responding to ACA Penalty Notices

ACA Times

With some penalty assessments in the millions of dollars, the cost of adding a third-party expert to help your internal team could be well worth the investment. By the year 2026, the amount of ACA penalties issued by the IRS is expected to reach $228 billion. The IRS has issued more than $4.5