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Professional Tax Software News & Advice

Some Tax Penalty Relief for 1095 Mix-Ups

The IRS is giving clients who got a wrong 1095-A limited relief from tax penalties. Notice 2015-30 provides limited penalty relief for taxpayers who received a Form 1095-A, Health Insurance Marketplace Statement, that was incorrect or delayed and who timely filed their 2014 income tax return, including extensions. [More]

IRS Delays Business Requirement of Affordable Care Act

The IRS has announced that The White House has delayed a portion of the Affordable Care act that required businesses with 50 or more employees to provide health insurance or face penalties. The requirement will now take effect in 2015. Business owners were concerned about the amount of time they had... [More]