Affordable Care Act Part 1: Tax Compliance Issues (Currently Unavailable)

Author: Arthur Joseph Werner

The Affordable Care Act creates many new issues and opportunities for the tax professional. This course covers the timeline (2010-2018), The issues regarding the 0.9% Medicare "High Income Tax" and Medicare 3.8% "Net Investment Income Tax", the Small Employer Tax Credit and more.

Publication Date: December 2015

Designed For
CPAs, EAs, and other tax professionals.

Topics Covered

• A Timeline of the Affordable Care Act (2010 — 2018)
• The issues regarding the 0.9% Medicare "High Income Tax"
• The issues of the Medicare 3.8% "Net Investment Income Tax"
• What is (and what isn't) "Net Investment Income"
• Small Employer Tax Credit
• The Premium Tax Credit and the Advanced Premium Tax Credit
• The Penalty for not Being Insured (The "Shared Responsibility Payment")

Learning Objectives

• Recognize the tax and compliance issues of the Affordable Care Act
• Identify the impacts that the Supreme Court's ruling had on moving forward with Obamacare
• Evaluate the impact the Affordable Care Act brought upon Medicare tax for a single taxpayer
• Calculate the amount companies who fail to provide health insurance coverage to employees will be penalized
• Identify the number of hours employees are required to work in 2015 to receive health insurance coverage from large employers
• Recognize the designations and elgibility for the health benefit exchange that is the benchmark for the Premium Tax Credit
• Identify which Affordable Care Act initiative was implemented in the 2014 tax year
• Recognize ways a higher income taxpayer can pay the additional .9% Medicare tax
• Identify Net Investment Income examples
• Illustrate how employers report cost of employer-sponsored health coverage on the W-2
• Calculate how many full-time equivalent employees a company has in a given month and when they are considered a large employer
• Recognize the characteristics of the required health insurance coverage under the 2015 introduced excise tax for large employers not providing adequate health insurance
• Identify the definition of a taxpayer's penalty for not being insured
• Recognize the rules regarding Premium Tax Credit (PTC)
• Evaluate the factors used in determining the Premium Tax Credit
• Identify the proper IRS form for the Reconciliation of the Premium Tax Credit (PTC) and the Advanced Premium Tax Credit

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None