Affordable Care Act Part 2: Tax Compliance Issues (Currently Unavailable)

Author: Arthur Joseph Werner

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

The Affordable Care Act creates many new issues and opportunities for the tax professional. This course covers Employer Penalties for failure to provide coverage, Forms 1095-A, 1095-B, and 1095-C, Compliance Issues — Form 8962, Penalty Exceptions and Compliance Issues — Form 8965, and case studies.

Publication Date: December 2015

Designed For
CPAs, EAs, and other tax professionals

Topics Covered

  • Employer Penalties for failure to provide coverage
  • Calculation of "Full Time Equivalent Employees
  • Forms 1095-A, 1095-B, and 1095-C
  • Compliance Issues — Form 8962
  • Shared Allocations
  • Penalty Exceptions and Compliance Issues — Form 8965
  • Case Studies

Learning Objectives

  • Recognize the tax and compliance issues of the Affordable Care Act
  • Identify the proper allocations in Marketplace coverage
  • Evaluate insurance policies shared the Marketplace issues involved
  • Calculate the penalty amount for individual who decide to accept the penalty rather than enroll in ACA coverage in 2016
  • Identify the penalty exemptions applied to Federally recognized Native American tribes and various types of clients
  • Identify various scenarios that could present problems when it comes to dependent insurance coverage
  • Calculate health insurance penalty amounts in various client scenarios
  • Recognize the proper reconciliations under the Advanced Premium Tax Credit (APTC)
  • Recognize the cost for bronze coverage under ACA and when a client may be exempt
  • Calculate the penalty using the flat dollar amount computation
  • Identify the proper Form to be filed under the ACA when provided with an Exemption Certificate Number (ECN) by the Marketplace
  • Recognize the rules applied when a client is late getting coverage under the ACA

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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