ACA Times

AUGUST 28, 2020

3 minute read: Employers with operations in states that have additional state level ACA reporting as a requirement of the state’s Individual Mandate know that it’s no easy undertaking, but what exactly is required of them? Let’s find out. The deadline is March 31 of the following reporting year. California. Washington DC.

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ACA Times

MAY 25, 2021

May 31 is the deadline for self-insured employers and health insurance carriers to submit applicable ACA information to the California Franchise Tax Board (FTB) for the 2020 tax year. The deadline for submitting ACA state reporting information was previously March 31st but was extended by the FTB. How should I file?

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ACA Times

JANUARY 4, 2022

Employers ringing in the New Year should remember that several states ’ have additional ACA filing and furnishing obligations that must be completed for the 2021 tax year. The instructions state that employers should not submit 1095-C forms for employees who received an offer of coverage but did not enroll. California .

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ACA Times

JANUARY 11, 2022

Open enrollment for the 2022 plan year ends later this week but ACA signups are already hitting record new highs. million Americans already signed up for 2022 coverage through an ACA marketplace exchange. What’s interesting is that some of the largest ACA signups are coming from states that have expanded Medicaid under the ACA.

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ACA Times

JANUARY 28, 2021

California’s Individual Mandate first went into effect January 2020 and requires state residents and dependents to obtain minimum essential coverage or pay a penalty. Individuals without coverage through their employer must report on the healthcare coverage to the FTB when filing state tax returns.

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ACA Times

SEPTEMBER 8, 2020

While 2019 was a year of reprieve from the obligation for individuals to obtain healthcare coverage when the federal Individual Mandate was zeroed out in 2019, a new state Individual Mandate in California has sprouted in 2020 to fill the void. . of gross household income that exceeds California’s filing threshold, whichever is higher.

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ACA Times

SEPTEMBER 4, 2020

Individuals that have lost their coverage will have a number of options for obtaining new coverage, including Medicaid , the ACA Marketplace (state or federal health exchange,) employer-sponsored insurance through a dependent, COBRA, or short-term plans. million) or through the ACA’s marketplaces (8.4 million).”.

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ACA Times

SEPTEMBER 24, 2020

2 minute read: The IRS has published various Affordable Care Act Information Returns (AIRs) documents for the 2020 tax year with which employers will need to familiarize themselves before electronically filing for this year. Such ALEs are required to submit annually the ACA information returns to the IRS.

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ACA Times

JANUARY 26, 2022

With the New Year well underway, organizations with operations in California should give special attention to the state’s Individual Mandate and the additional ACA reporting requirements. These ACA responsibilities are required under the state’s Individual Mandate, which first went into effect in 2020. .

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ACA Times

OCTOBER 7, 2021

What precautions is your organization taking to ensure a smooth ACA reporting experience this year? As an ACA Times subscriber, we’ve curated a list of the top three ACA resources to help ensure a smooth 2021 ACA reporting experience, to be filed and furnished in 2022. . The 2021 ACA 101 Toolkit .

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ACA Times

DECEMBER 7, 2020

The IRS explicitly stated that Good-Faith Relief would not be extended again. . For deadlines in 2021 (pertaining to the 2020 reporting year) these penalties range from $50 to $270 per return per filing/furnishing obligation, and $550 per return per filing/furnishing obligation for intentional disregard.

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ACA Times

FEBRUARY 4, 2021

3 minute read: The IRS has a Taxpayer Bill of Rights, which includes a section stating every taxpayer’s “right to challenge the IRS’s position and be heard.” One area that employers should take careful note of regarding the IRS is, of course, compliance with the Affordable Care Act (ACA).

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ACA Times

MARCH 31, 2021

2 minute read: March 31, 2021, is the deadline for e-filing ACA returns, Forms 1094-C and 1095-C, to the IRS for the 2020 tax year as required by the ACA’s Employer Mandate. On an annual basis, ALEs must file their ACA information to the IRS to inform the agency of health coverage information offered for the tax year.

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ACA Times

NOVEMBER 2, 2021

With the end of the year approaching quickly, ACA compliance and the subsequent ACA reporting are ramping up. Employers preparing for IRS and state filing requirements should consider the importance of the 1095-C form. Form 1095-C is a record of an ACA full-time employee’s health coverage for a particular year.

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ACA Times

FEBRUARY 16, 2022

The last notice has previously been used to inform taxpayers of an inability to pay an ACA penalty assessment. . This also means that the agency will continue to issue ACA penalty assessments as planned. If you believe the information stated in the notice is accurate, take action to rectify the situation. Review it carefully.

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ACA Times

NOVEMBER 9, 2021

Every year employers must file their ACA information via forms 1094-C and 1095-C to the IRS and any state government. A new IRS proposed rule seeks to phase out the paper-filing option by 2023, leaving it intact for only the smallest subset of employers.

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ACA Times

JULY 13, 2020

2 minute read: California residents that fail to obtain qualified health coverage this year will receive a penalty from the state for an amount larger than first projected. Per California’s Individual Mandate , beginning January of this year, state residents can be charged a penalty based on the California Consumer Price Index.

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ACA Times

OCTOBER 28, 2021

On October 2, 2020, the IRS issued Notice 2020-76 , extending the deadline for employers to furnish ACA Forms 1095-C to applicable full-time employees from January 31, 2021, to March 2, 2021. To further align with the agency’s goals to identify ACA Employer Mandate non-compliance, it makes sense for the agency to not issue an extension.

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ACA Times

OCTOBER 28, 2021

On October 2, 2020, the IRS issued Notice 2020-76 , extending the deadline for employers to furnish ACA Forms 1095-C to applicable full-time employees from January 31, 2021, to March 2, 2021. To further align with the agency’s goals to identify ACA Employer Mandate non-compliance, it makes sense for the agency to not issue an extension.

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ACA Times

MARCH 4, 2021

Letter 226J penalty notices contain one of two different types of ACA penalties–4980H(a) or 4980H(b). The “B” penalty is triggered by each full-time employee who receives a PTC from a state or federal health exchange. Best practices suggest reviewing your 2018 ACA filings to determine if you are at risk.

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ACA Times

MARCH 30, 2021

To help facilitate the identification of individuals who must pay an Individual Shared Responsibility Penalty, the FTB has imposed state reporting obligations for self-insured employers and fully insured employers whose carriers do not distribute and report on health care coverage on the employers’ behalf.

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ACA Times

AUGUST 17, 2021

People who experience either a disability determination, second qualifying event, extension under State mini-COBRA following a reduction in hours, or involuntary termination, during the time frame in which they were initially eligible for COBRA essentially have their COBRA eligibility period extended. .

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ACA Times

OCTOBER 27, 2020

3 minute read: An argument regarding the District of Columbia’s ACA health exchange tax was decided late last month. The decision rules in favor of the tax, supporting state-run health exchanges. health carrier tax because it encourages states to be self-sustaining in administering their own health exchanges.

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HR Bartender

JANUARY 9, 2018

(Editor’s Note: Today’s post is brought to you by our friends at ComplyRight , providers of practical, affordable products and services that help employers of all sizes streamline essential tasks and compliance with federal, state, and local employment laws. For example, organizations prepare and file their taxes. Enjoy the article!).

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ACA Times

MAY 21, 2021

There are six different scenarios for claiming a Limited Non-Assessment Period when filing annual Forms 1095-C with the IRS. The agency is also issuing failure to file and furnish penalties for the 2017 tax year via Letter 5005-A. We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance.

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ACA Times

FEBRUARY 11, 2021

3 minute read: The Patient Protection and Affordable Care Act (ACA) is a comprehensive healthcare reform law enacted under President Barack Obama in 2010. The implementation of the ACA represented the largest set of tax law changes in decades. The ACA comprises the most significant set of regulatory changes in U.S.

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ACA Times

DECEMBER 30, 2020

Individuals without coverage through their employer must report on health care coverage to the FTB when filing state tax returns. As The ACA Times and Trusaic have previously discussed , the Individual Shared Responsibility Penalty is either a flat penalty per household member or 2.5% 18, § 26000.61005(b)(1). .

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Genesis HR Solutions

JUNE 27, 2022

Payroll processing (multi-state). Payroll tax filings. Labor law posting by state. Form 5500 filings. MA HIRD filings. ACA reporting. W-2 processing. Direct deposit administration. Business expense reimbursement. PTO management and workflow. Workers’ compensation administration. Unemployment administration.

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ACA Times

JANUARY 6, 2022

It’s 2022 and time to begin preparing the annual 1095-C filings with the IRS and select state governments. A 1B code could expose employers to potential ACA penalty exposure. 2C: If the employee enrolled in the coverage offered, regardless of whether the coverage complied with the ACA requirements, use the 2C code.

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ACA Times

DECEMBER 7, 2021

It only takes one employee to trigger it and then it applies across the vast majority of your ACA full-time workforce. Curious about how the IRS identifies ACA non-compliance? There are a number of ways, but the primary trigger involves an employee requesting a Premium Tax Credit (PTC) from a state or federal health exchange.

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ACA Times

FEBRUARY 23, 2021

3 minute read: With the 2020 ACA filing deadlines fast approaching, employers will be met with additional reporting challenges due in large part to the COVID-19 pandemic. Employers that have experienced these types of changes to their workforce should familiarize themselves with the ACA’s Rule of Parity.

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ACA Times

MAY 21, 2020

3 minute read: Gig Economy giants Uber and Lyft are being sued by the state of California for allegedly failing to meet the requirements of California Assembly Bill 5 (AB 5). While the injunction only covers San Diego, the writing appears to be on the wall for Gig Economy, as the state of California lawsuit against Uber and Lyft now shows.

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ACA Times

JUNE 17, 2020

2 minute read: Washington DC is one of several jurisdictions to have implemented an individual mandate in the wake of Congress zeroing out the federal ACA penalty for individuals who do not have coverage. These filing requirements, while similar to Federal filing requirements under the ACA, are not the same. txt) format.

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ACA Times

MAY 18, 2020

2 minute read: As states begin to lift their shelter-in-place orders and begin plans to re-open, employers should take note of recent IRSactivity, as the agency is expediting its efforts to carry out “mission-critical” tasks. Employers should note that among these functions, we may see an uptick in ACA enforcement activity.

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ACA Times

DECEMBER 20, 2021

On December 9, 2021, the IRS published the final ACA reporting instructions for the 2021 tax year , including the final 1094-C and 1095-C forms. Below we’ve covered what you need to know about the final ACA reporting instructions for the 2021 tax year. So far we’ve helped our clients prevent over $1 billion in ACA penalty assessments.

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ACA Times

FEBRUARY 17, 2020

3 minute read: Several states and the District of Columbia are taking pains to make sure the Individual Mandate under the Patient and Protection and Affordable Care Act (“ACA”) is here to stay. To avoid a health care tax penalty, the Individual Mandate requires individuals to submit proof of insurance with their tax filings.

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ACA Times

DECEMBER 19, 2019

2 minute read: The state of New Jersey has issued updated guidance regarding state-level ACA health insurance reporting. Employers, regardless of size, who offer Minimum Essential Coverage to employees will need to file their ACA information with the state. For questions about the ACA contact us here.

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