Blog Archives

Tax Year 2017 Deadlines

These reminders don’t do much for our popularity. But, the only thing worse than doing the work of complying with IRS mandates is stressing over penalties after the IRS has already knocked on your door (see IRS sample letter 226J). …

Hey Kids, Get to Work!

If you have come to the conclusion that it is time for your children to start contributing to the revenue (rather than expense) side of your family’s income statement, there are a few things you need to know. Below is …

2017 Penalties for Not Offering Coverage Under the Affordable Care Act

Kaiser has the easiest of these diagrams to digest.  This one has the updated penalties for 2017.  Enjoy:

Affordable Care? 2017 Rates are Out Now!

Here is a personal look at the impact of the impact the Affordable Care Act has had on me and my family.  For reference, in the beginning of 2016, I was 45, my wife 42 and my kids 13, 10 …

New Special Enrollment Confirmation Process

Due to concerns about whether current federal Health Insurance Marketplace rules and procedures are sufficient to ensure that only those who are eligible enroll through special enrollment periods, the Centers for Medicare & Medicaid Services (CMS) has created a new …

Indicator Codes for Employee Offer and Coverage (Form 1095-C, Line 14)

In case you don’t recognize the format, this is an excerpt from an IRS favorite: Instructions for Forms 1094-C and 1095-C. Code Series 1— Offer of Coverage.   The Code Series 1 indicator codes specify the type of coverage, if any, offered …

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2015 ACA Reporting is Delayed

In Notice 2016-4, the IRS has extended the due dates for certain 2015 Affordable Care Act information reporting requirements. Specifically, the Notice extends: the due date for furnishing to individuals the 2015 Form 1095-B and Form 1095-C from February 1, 2016, …

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Section 4980H Safe Harbor Codes and Other Relief for Employers

Here is my favorite section of the Instructions for Forms 1094-C and 1095-C.  I thought it was worth sharing. . . An employer enters the applicable Code Series 2 indicator code, if any, on line 16 to report for one or …

Cadillac Tax Explained

The Cadillac Tax is the next BIG provision of the Affordable Care Act to begin in 2018.  That may seem like an eternity from now.  But, given the potential impact to employer groups, I thought it was at least worth …

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