IRS Announces 2024 Shared Responsibility Penalties under the Affordable Care Act
The IRS has announced an increase in the annual shared responsibility penalty amounts for calendar year 2024. These are the penalties that an applicable large […]
<span style="color: rgb(0, 119, 168); font-family: arial;">H&W:</span> ACA Play or Pay Penalty Notification and Response Process
In our earlier blog, we discussed how the IRS would be notifying Applicable Large Employers (“ALE”) when they are identified as potentially liable for an […]
<span style="color: rgb(0, 119, 168); font-family: arial;">H&W</span> Sample Invoice for Section 4980H Penalties!
Last week we blogged about the IRS releasing the first round of 226J letters, which communicate to Applicable Large Employers that they have been identified […]
<span style="color: rgb(0, 119, 168); font-family: arial;">H&W</span> What’s in your mailbox? An IRS Letter 226J, Perhaps?
As announced in our blog last fall, the first round of IRS 226J letters were slated to begin rolling off the presses at the IRS. […]
<span style="color: rgb(0, 119, 168); font-family: arial;">H&W</span> 2016 Transition Relief for Section 6055 and 6056 Reporting
Extension for Providing Employee Statements The IRS has announced 2016 transition relief that includes a 30 day extension to furnish the Section 6055 & 6056 employee […]
H.R. 3236 – New Bill Impacts Group Plans
On July 31, 2015, President Obama signed into law H.R. 3236, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” The new […]
<span style="color: rgb(0, 119, 168); font-family: arial;">H&W:</span> Minimum Value Loophole Closed and Countdown Begins!
Applicable large employers (ALEs) must offer employer sponsored coverage that is both affordable and provides minimum value to their employees and dependents. Failure to provide […]
<span style="color: rgb(0, 119, 168); font-family: arial;"><b>H&W:</b></span> Additional Cafeteria Plan Election Changes
The IRS has expanded the list of events that will permit an employee to change his or her cafeteria plan election. See IRS Notice 2014-55 […]
<span style="color: rgb(0, 119, 168); font-family: arial;"><b>H&W:</b></span> What To Do Now to Prepare for Pay or Play
The employer shared responsibility provisions begin in 2015, and these provisions are covered in Compliancedashboard reference material. The following are suggested steps for employers to […]