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ACA penalties are real: What to do if you receive IRS Letter 226J

It may be 2018, but 2015 is still top of mind – at least in terms of Affordable Care Act (ACA) reporting.

The IRS has been sending penalty letters to applicable large employers (ALEs) that may be liable for employer shared responsibility payments (ESRPs) from 2015 under the ACA.

This is the first year the IRS is sending Letter 226-J to employers, so there are bound to be questions. We’re here to help explain what the letter means and what you can do to avoid paying expensive fines.

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What’s a 1095-C? How to answer employees’ tax season questions.

It’s that time again – tax season. For employers, the first quarter of the year brings about more reporting, filing, calculations, and more often than not, questions from employees about their tax requirements and paperwork.

While the Affordable Care Act’s (ACA) individual mandate was repealed as part of the GOP tax bill, the employer mandate is still in place. This means tax season will again require employers to report on their health care plans, starting with the distribution of the ever-confusing 1095-C to employees.

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EEO-1 penalties will hit you hard. Here’s how to avoid them.

While compliance isn’t fun, it’s definitely better than the alternative. No matter how little you enjoy the data collection, record keeping, and form filing required for compliance, you probably enjoy paying fines even less.

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3 lessons learned about ACA compliance from filing 2M 1095-Cs

Last year we wrote about what we learned from the 2016 ACA e-filing process, the first year employers had to report. It was tricky, error-prone, and buggy, but we got through it.

With another year gone and the ACA still intact, another round of reporting is upon us, which means many employers are once again scrambling to prepare. With more than 2 million ACA forms filed, we’ve learned a thing or two about ACA compliance. 

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