- 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.
- The repair and maintenance regulation update in Baker Tilly’s 2015 midyear tax letter provides clarification on the deduction and capitalization of expenditures related to tangible property for landlords.
- The BEA has extended the deadline to file a BE-10, Benchmark Survey of US Direct Investment Report Abroad to June 30, 2015 for US businesses with fewer than fifty foreign affiliates and for new filers.
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