Affordable Care


Affordable Care

Affordable Care Act changes, new tax forms will affect some businesses

 Big changes are coming to the Affordable Care Act beginning Jan. 1, 2016. One of the most significant changes is implementation of the ACA employer mandate, which was delayed a year. The employer mandate requires businesses with 50 or more full-time equivalent employees to provide health insurance by 2016 to at least 95 percent of their full-time employees…
Affordable Care

Health Coverage Exemptions: What Are They, How to Obtain Them, and How to Claim Them

SOURCE: IRS FS-2015-14 The Internal Revenue Service reminds taxpayers that they will see some new things on their 2014 tax return involving the new health care law, also known as the Affordable Care Act or ACA. Under the ACA individual shared responsibility provision, taxpayers are required to have qualifying health care coverage if they can afford…
Affordable Care

IRS Will Not Penalize Those Who Received Wrong Tax Info from Health Insurance Marketplaces

The Internal Revenue Service will not try to collect additional taxes from those taxpayers who have already filed their taxes after receiving incorrect information from the federal health insurance marketplace, Healthcare.gov.   Last week, the Centers for Medicare and Medicaid Services announced that approximately 800,000 taxpayers who received…