Affordable Care Act in St Petersburg Florida

3 Affordable Care Act Taxes Postponed by Congress

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On January 22, President Trump signed into law a short-term government funding bill. It ended the brief government shutdown by funding the federal government through February 8. It also suspends the following Affordable Care Act (ACA) taxes, which were designed to help fund...
Provisions in St Petersburg Florida

IRS Updates FAQs on Certain ACA Provisions

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The Trump Administration and the Republican majority in Congress plan to repeal and replace the Affordable Care Act (ACA) in the coming months. In the meantime, however, employers must continue to comply with the existing rules for 2016, including the information reporting...
ACA in St Petersburg Florida

IRS Extends Deadline to Provide 2016 ACA Forms to Recipients

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The IRS announced that it is extending one of the deadlines for providing 2016 Affordable Care Act (ACA) information statements to recipients. Specifically, the due date for furnishing to individuals the 2016 Form 1095-B (Health Coverage) and the 2016 Form 1095-C,...
Employees in St Petersburg Florida

How many employees does your business have for ACA purposes?

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It seems like a simple question: How many full-time workers does your business employ? But, when it comes to the Affordable Care Act (ACA), the answer can be complicated. The number of workers you employ determines whether your organization is an applicable large employer (ALE)....
ACA in St Petersburg Florida

Good News in the New Year: IRS Extends ACA Filing Deadlines

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Employers and other organizations got some good news from the IRS for the start of the new year. The tax agency announced that it’s extending the due dates for filing 2015 Affordable Care Act (ACA) information returns. This gives employers extra time to complete two tasks:...
Grandfathered Status in St Petersburg Florida

Ways a Company Health Care Plan Can Lose Grandfathered Status

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Health care plans that weren’t in place before March 23, 2010 don’t have grandfathered status under the Affordable Care Act. Consequently, these newer plans must meet the provisions under the law including: Unisex premiums (Gender-defined premiums are prohibited under...
ACA Changes in St Petersburg Florida

Reminders of ACA Changes Coming Up in 2016

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Changes brought by the Affordable Care Act (ACA) continue to roll in. For affected employers, these changes could mean higher expenses and will add filing responsibilities with the IRS. Background: The ACA has a language of its own, with many new terms employers must learn. For...
IRS in St Petersburg Florida

Seasonal IRS Announcements: Stop To Reflect on Taxes

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Now that fall has begun, it’s time to start your year-end tax planning for 2015 — and to tie up loose ends that remain from the 2014 tax season. Here are some reminders that the IRS has sent out recently and related federal income tax-savings opportunities for individuals...
Large Employers in St Petersburg Florida

Large employers: Time to start planning for ACA information reporting

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With the U.S. Supreme Court’s June 25 decision upholding the Affordable Care Act (ACA) yet again, employers subject to the act’s information reporting provision can no longer afford to put off planning in the hope that the requirements might go away. Beginning in 2016, large...
Supreme Court in St Petersburg Florida

Recent Supreme Court Cases That May Affect Your Business

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As the U.S. Supreme Court adjourns for its summer recess, the landmark cases about same-sex marriage and the Affordable Care Act premium tax credits have garnered most of the publicity. However, you should also know about these three lesser-known Supreme Court decisions that may...