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Posts from: March 2017

Is this a Football Game or are we talking about Health Insurance?

Author: Jan Fernandez    Posted: March 1, 2017

It feels like a quarterback calling out a play, 6056, 1095, 4980H – HIKE!, but employers are reporting which employees had health insurance and for how many months during the year. The Affordable Care Act (ACA) created reporting requirements in Internal Revenue Code (Code) Section 6056. Under these rules, applicable large employers Applicable Large Employer (ALEs) subject to the employer shared responsibility rules must provide information to the Internal Revenue Service (IRS) about the coverage […]

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From The Blog - ARE YOU READY FOR THE NEW DOL AUDIT!

The Department of Labor is out in force and you can’t stop the rampage. After all, they have to subsidize the exchange tax credits somehow, right?! The penalties associated with being out of compliance with the ACA can cause a company to go out of business. The penalty for non-compliance is generally $110 per day, per individual, per violation. But don’t worry, there is a cap – $500,000. According to a Seattle Business Magazine article, […]

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