Affordable Care Act, W-2

‎2024 Healthcare Affordability Percentage Makes Benefits More Expensive for Employers‎

Schwabe, Williamson & Wyatt PC on 8/28/2023

The employee benefits 2024 open enrollment season is quickly approaching and, with newly released IRS guidance, employers should be careful to ensure the health plan they offer employees is considered affordable. According to...more

1095-C Codes for the 2022 Tax Year

Trusaic on 1/10/2023

The arrival of a new year marks the time to begin preparing annual 1095-C filings with the IRS and select state governments. Fortunately for employers, there aren’t any new 1095-C codes for the 2022 tax year. Still, with...more

Reporting Health Care Costs on Form W-2—The Devil is in the Details

Dickinson Wright on 11/13/2020

The Affordable Care Act (ACA) requires employers who file 250 or more W-2s to report the cost of coverage under an employer-sponsored group health plan on an employee’s W-2.This is reported in Box 12, with Code DD....more

What Can Employers Expect from the Trump Administration in the Upcoming Year?

FordHarrison on 2/23/2017

It has been a little less than a month since President Donald Trump took office, and employers are anxious to see what changes the new administration will make that will affect both businesses and employees. President Trump...more

Employment and Benefits Advisory: 2017 Reminders and Developments

Sullivan & Worcester on 1/24/2017

New Relief for Small Employer Health Reimbursement Arrangements - As mentioned in prior advisories, the Departments of Labor, Health and Human Services and Treasury have taken the position that employers cannot reimburse...more

2016 Year-End Tax Update: Okay, Now What?

Cozen O'Connor on 1/6/2017

In last year’s materials, loosely styled “Make America Great Again!,” we ruminated upon (and also thought about) what role, if any, federal income taxes might play in helping to make America great again, once the interminable...more

Employers Need 2015 Year-End Planning to Meet Employee Reporting and Withholding Requirements

McDermott Will & Emery on 12/16/2015

To avoid tax reporting and withholding penalties as 2015 draws to a close, employers need to properly plan and check their reporting for employees under non-qualified deferred compensation, fringe benefits, health benefits or...more

2015 End of Year Plan Sponsor “To Do” List Health & Welfare

Snell & Wilmer on 11/23/2015

As 2015 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. Like last year, we are presenting our “To Do” Lists in three separate Employee Benefits Updates. Part 1 of...more

Upping the Ante: Fines Increase for Failure to Comply with Affordable Care Act Reporting Requirements

Spilman Thomas & Battle, PLLC on 8/28/2015

The deadline for employers to comply with the Affordable Care Act (“ACA”) reporting requirements is finally here, with reporting first due in 2016. In keeping with the ACA’s historical pattern of ever-changing regulations and...more

Draft 2015 Forms and Instructions for ACA Coverage Offer Information Reporting: Forms 1094-B, 1095-B, 1094-C, 1095-C and 8809

Balch & Bingham LLP on 8/13/2015

At about the same time as last year, the IRS has released draft ACA coverage information reporting Forms and Instructions to be used early next year. There are many small differences and one HUGE difference. The IRS decided...more

More Cadillac Plan Tax Guidance from IRS

Balch & Bingham LLP on 8/7/2015

Code § 4980I (a/k/a/ the “Cadillac Plan tax”) was added by the ACA so that taxpayers with average group health plans would not subsidize, by tax preference, rich plans benefitting chiefly the rich. Section 4980I imposes a...more

Employee Health Care Plans: Tips for Navigating the Affordable Care Act Requirements

Baker Donelson on 8/7/2015

The United States Supreme Court upheld the Affordable Care Act (the "Act") in a recent decision involving the use of the insurance exchanges. Employers are now certain that they must deal with the requirements of the Act...more

ACA Information Reporting Penalties Have Been Increased

Snell & Wilmer on 8/4/2015

Code Sections 6055 and 6056 require large employers and all employers (even small employers) sponsoring self-funded health plans to file information returns with the IRS and furnish statements to applicable employees...more

Affordable Care Act Reporting Penalties Significantly Increased

McDermott Will & Emery on 7/24/2015

On June 29, 2015, President Barack Obama signed the Trade Preferences Extension Act (the Act) into law. In addition to containing several revenue offsets, the Act significantly increased penalties for incorrect information...more

Homejoy’s Shutdown, Due to Misclassification Lawsuits, Likely to Propel Tech Start-Ups to Enhance Their Independent Contractor...

Troutman Pepper on 7/20/2015

Earlier Friday, it was reported by Carmel DeAmicis of re/code that Homejoy, the home cleaning start-up that uses independent contractors as their home cleaners, was closing down its operations due to four misclassification...more

Some Wellness Benefits are Taxable

Stinson - Benefits Notes Blog on 5/15/2015

My colleagues blogged on recent wellness guidance from the Equal Employment Opportunity Commission (EEOC) and the three agencies charged with enforcing the Affordable Care Act (ACA), the Department of Treasury, the Department...more

BEST IN LAW: Employers need to heed Obamacare Reporting Rules

Best Best & Krieger LLP on 3/25/2015

Compliance with reporting obligations is always important for any employer, but the employer reporting requirements under the Affordable Care Act pack a significant penalty that makes compliance particularly important. ...more

The Affordable Care Act—Countdown to Compliance for Employers, Week 17: Cherry Bomb in the Gold Fish Pond, or Third-Party Staffing...

Mintz - Employment, Labor & Benefits... on 9/4/2014

With two seemingly simple and straightforward definitions in the final regulations implementing the Affordable Care Act’s pay-or-play rules—i.e., definitions of “employer” and “employee”— the Treasury Department and IRS have...more

Patient Protection and Affordable Care Act (PPACA) › W-2