26 Jun Trump Asks Supreme Court to Overturn ACA
Late on June 25, 2020, President Donald Trump’s administration asked the Supreme Court to strike down the Affordable Care Act (ACA). If successful, such action would eliminate health coverage for up to 23 million Americans.
The administration’s argument hinges on Congress’ decision in 2017 to remove the individual mandate, the tax penalty for not purchasing insurance.
17 Apr IRS Extends Deadline for Forms 5500 Due Before July 15, 2020
On April 9, 2020, the IRS issued Notice 2020-23 to extend key tax deadlines for individuals and businesses in response to the ongoing COVID-19 pandemic.
This new tax relief is provided under Section 7508A of the Internal Revenue Code (Code), which gives the IRS authority to postpone deadlines for taxpayers affected by federally declared disasters. 01 Apr The Look-back Measurement Method and COVID-19 – ACA Compliance
The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees or possibly pay a penalty. This employer mandate is also known as the “employer shared responsibility” or “pay or play” rules.
ALEs can use one of two methods to determine whether employees are full time under the employer shared responsibility rules:
- The monthly measurement method determines full-time status for each calendar month based on the employee’s hours of service in that month.
- The look-back measurement method determines full-time status for a longer period of time based on average hours of service during a prior period.