- US Supreme Court announces Affordable Care Act decision that taxpayers who purchase health insurance on a federal healthcare marketplace exchange are entitled to subsidized premium credits.
- 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.
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