BAS Blog


 

Question of the Week

Q.- Can we send our 1095-C forms electronically or do they have to be mailed?

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New Overtime Rule

The U.S. Department of Labor issued a final rule updating the earnings threshold required to be exempt from receiving overtime pay. The new rule is expected to make 1.3 million workers eligible for overtime under the Fair Labor Standards Act (FLSA). 

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Court Finds Individual Mandate Unconstitutional

Yesterday, the 5th Circuit U.S. Court of Appeals held that the individual mandate provision of the Affordable Care Act is unconstitutional. The court did not rule on whether the individual mandate provision could be removed from the ACA with the remainder of the law held intact. This issue of law was sent back to the district court for determination.

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Question of the Week

Q.- What does it mean when a child must be covered until Age 26?

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Form 5500 Released

The U.S. Department of Labor, Internal Revenue Service and Pension Benefit Guaranty Corporation jointly released copies of the 2019 Form 5500 forms. The forms are used to report information on retirement plans and health plans with more than 100 participants.

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Final 1094-B/C and 1095-B/C Forms and Instructions

The IRS has released final 1094-B/C and 1095-B/C Forms and Instructions for 2019. The Forms and Instructions will be used for completing 2019 tax year health care reform reporting.

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Question of the Week

Q.- We have a full-time employee who works for two different employers with different Employer Identification Numbers within our controlled group. How do we handle his ACA reporting?

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Natural Disasters and Employee Pay

As we move into the colder months, employers may have questions about employment and wages during natural disasters.

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New Guidance on ACA Reporting

On December 2, 2019 the IRS extended a key Affordable Care Act deadline - the due date for furnishing the 2019 Form 1095-B and Form 1095-C. The IRS also extended relief from penalties for errors on 2019 Forms 1094-B/C and Forms 1095-B/C if the entity made a good-faith effort to comply with the information reporting requirements.

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