New law on trade preferences doubles ACA penalties. Huh? And uh-oh!

It’s true. On June 29, 2015, the Trade Preferences Extension Act became law and, unbeknownst to many, the act included a provision to amend Internal Revenue Code sections 6721 and 6722 to increase the per-employee penalties on applicable large employers for failing to properly file ACA information returns or provide payee statements. The increased penalties will apply to Forms..

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IRS Issues Final ACA Forms: Are you ready?

Earlier this month, the IRS released final versions of the forms 1094-B, 1095-B, 1094 – C and 1095 – C, that employers subject to the Affordable Care Act (ACA) “shared responsibility” mandate will be required to file (in 2016 for 2015) in order to show that the health coverage they offer to their employees is..

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