ACA Pay or Play Penalties Will Increase for 2023
On Aug. 16, 2022, the IRS updated its frequently asked questions (FAQs) on the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA) to include payor play penalties increases for 2023....
Read MoreUpcoming Affordable Care Act Reporting Deadlines
Affordable Care Act (ACA) reporting under Section 6055 and Section 6056 for the 2021 calendar year is due in early 2022. Specifically, reporting entities must: Furnish statements to individuals by Jan. 31, 2022; and File...
Read MoreHealth FSA Limit Set to Increase for 2022
The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts (FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be...
Read MoreHave You Reviewed the Latest IRS ACA Draft Forms?
Draft Forms for 2021 ACA Reporting Released The Internal Revenue Service (IRS) released draft 2021 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056, both of which relate to the Affordable Care...
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