Posts Tagged "Affordable Care Act"

Business Alert: No penalty if you missed October 1 deadline

Posted on Oct 8, 2013

October 1 was the original deadline for employers to provide their workers with a notice about the state health insurance exchanges created by the Affordable Care Act. Failure to comply could have resulted in fines of up to $100 per day. The U.S. Department of Labor recently announced that, while companies are required to provide the notice, there will be no fine or penalty under the law for failure to do so. Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in the McLean and Tysons Corner, VA. Gilliland & Associates specializes known for our superior knowledge and aggressive interpretation and application of tax laws, we help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+ , LinkedIn , Facebook , and...

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IRS eases reporting requirement for small businesses

Posted on Sep 14, 2012

The “Affordable Care Act of 2010” requires employers to report the cost of coverage under an employer-sponsored group health plan on the employee’s W-2 for 2012. The IRS is easing this requirement for small companies. Employers issuing fewer than 250 W-2s will not need to include the cost of health care on W-2s for 2012. For these employers, the 2012 reporting is optional. And such reporting will not apply for future years until the IRS publishes guidance giving at least six months of advance notice of any change in the filing...

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