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Tag: IRS Reporting Rules
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Health Insurance Marketplace | PA Employee Benefits
Abridged from www.irs.gov Health care insurance purchased through the Marketplace If you purchased health care insurance through the Marketplace, you should receive a Form 1095-A, Health Insurance Marketplace Statement, at the beginning of the tax filing season. The information shown on Form 1095-A helps you complete your federal individual income tax return. If Form 1095-A…
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Small or Large Employer? | PA Benefits Specialist
How do I know if I am a small or large employer? Why does it matter? Abridged from www.irs.gov An employer’s size is determined by the number of its employees. Employer benefits, opportunities and requirements are dependent upon the employer’s size and the applicable rules. Generally, an employer with 50 or more full-time employees or…
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IRS Releases Draft 2015 Instructions for 6055/6056 Reporting | PA Benefits Broker
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have…
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