- In this update, Baker Tilly focus on the necessary reporting and disclosure to comply with the ACA and potential tax liabilities and health coverage reimbursement relief.
- Any entity that provides minimum essential health coverage (MEC), under the Affordable Care Act (ACA), to its employees must report that coverage to the employees and to the Internal Revenue Service.
- Under the Affordable Care Act, beginning in 2015, businesses may incur additional taxes or penalties for noncompliance in filing the information returns.
- From Jan. 1, 2014 through June 30, 2015, small employers (non-ALEs) who have reimbursed employees for self-purchased health coverage can continue to reimburse these amounts on a pre-tax basis.
- Since the healthcare law was passed, the number of changes to its implementation and rules has created confusion for not only employers, but also employees. Our recent webinar discusses the latest modifications and what they mean to you. Specifically, they address the employer mandate (pay-or-play rules), the impact of temporary employees on large employers, and disclosures and reporting requirements.
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