The IRS recently released a notice detailing transition relief for filing 2016 ACA Forms 1095-B and 1095-C. This relief extends the due date from Jan. 31, 2017, to March 2, 2017. Read more about this extension in our recent article.
Many people are unaware that there are potentially beneficial tax credits available in relation to the Affordable Care Act. With proper tax planning, you may be able to save thousands of dollars by taking advantage of the Advanced Premium Tax Credits (APTC). Learn more about these credits and the importance of tax planning in our recent article.
By now, most businesses have been affected in some way by the ACA. However, it is not always clear to small business owners what they need to do to stay ahead of this legislation and all its changes. There are many ACA rules that are making a large impact on small businesses. Shannon Breuer, Partner and Health Care Reform professional at Eide Bailly, discusses these impacts in an article on our Possibilities blog. Read the article here to learn more.
The Affordable Care Act has created complexity and an administrative burden for many businesses. The deadline for 2016 form completion is January 31, 2017. Are you prepared to comply?
Please join us for an informational/educational webinar for updated information related to the ACA, and to learn how Eide Bailly can help. The cost is $50 per registrant, and there are four opportunities to attend:
In this webinar, we will…
- Review the Affordable Care Act and current updates
- Discuss the importance of identifying and documenting measurement periods
- Understand current reporting requirements including IRC Section 6055 and 6056
- Review necessary information and form deadlines
Eide Bailly recently released two new videos discussing the latest in Affordable Care Act compliance and outlining common questions. View the videos below to learn more.
There are many things that businesses need to consider regarding the Affordable Care Act, and it can be difficult to keep up with all of the due dates and requirements. Our recent article provides information on a variety of pertinent topics, including:
- Critical ACA Compliance Test
- Employment Status Change
- Transitional Relief
- Form Information
- Full-Time or Part-Time Status
- Signed Waivers
- Advanced Premium Tax Credit (APTC) Notices Issued
- 2016 Filing Deadline
- ACA Form Assistance
Click here to read the article and learn more.
For additional information, contact your Eide Bailly professional, or visit our Health Care Reform website.
Which employer should offer coverage when you have a shared employee among an Applicable Large Employer (ALE) member/controlled group?
A couple facts: (1) The employee worked hours for two separate companies which were part of a controlled group. (2) The individual’s hours when considered between both companies, made him eligible for an offer of insurance.
Response: The rules state that he is the employee of whichever company he worked more hours for each month. If he worked the same amount of FT hours for each company each month than the companies need to determine which one will consider him a FT employee. If they cannot make that determination the IRS will. He will not be listed on the other company’s 1095-C. Keep in mind if he worked FT for one company for the first two months and then FT for the other company for the next ten months, he would receive two 1095-C’s.