The IRS will be sending multiple forms for tax year 2015 for employers to fill out and return to the IRS. These forms are the key to determine if individuals or employees have to pay a penalty or if they are really eligible to receive premium tax credits from the online Exchange/Marketplace. Please contact your broker, first, to distinguish if you are truly an Applicable Large Employer (ALE). Continue reading
This year there will be new challenges for everyone that files taxes. There is a new employer reporting system for Health Plan Coverage that the IRS will need in order to collect data to see if we are eligible to avoid the individual penalty. Continue reading
Part of the Affordable Care Act is a provision that requires employers to either offer health insurance, or face a penalty (Penalty A). The employer mandate has been a topic that has been pushed back for many businesses. Now that 2015 is here, employers with over 50 full time equivalents (FTE) employees are subject to the “Employer Shared Responsibility” fee or payment. Continue reading
As a small business, you could probably use a few extra hands. But, in many cases, hiring more employees just simply isn’t an option. That leaves you with two options: let a few things slip through the cracks and hope they aren’t detrimental to your operations or find efficiencies in your day-to-day activities to make sure you’re able to accomplish everything that comes your way.
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The Affordable Care Act has changed many things about how Americans will be covered under health insurance policies. One of the major changes in the Affordable Care Act is the limits that are now set forth by the law pertaining to the max out-of-pocket expense. Continue reading
