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Technical

Health Care Reform Act: Critical Tax and Insurance Ramifications Logo aicpa

  Janemarie Mulvey, Ph.D. |   Free |   AICPA |   May 2019 |   Specialized Knowledge and Applications |   AICPA Store
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Who Will Benefit?
  • CPAs
  • Enrolled agents
  • Financial advisers
  • Insurance brokers
Key Topics
  • Employer's shared responsibility payment
  • Health Insurance Premium tax credit eligibility and calculations
  • ACA Employer penalties for non-compliance
  • IRS employer and insurer reporting requirements
  • Small business tax credit for providing health insurance
  • The Small Business Health Options Program (SHOP) Exchange
Learning Objectives
  • Identify factors affecting eligibility for premium tax credits under the Patient Protection and Affordable Care Act (ACA).
  • Estimate the premium tax credit under different income levels.
  • Estimate firm size based on full-time equivalents (FTEs) to determine which firms are potentialy liable for an employer-shared responsibility payment.
  • Calculate potential penalties for employers who currently provide health insurance coverage and for those who do not provide health insurance coverage.
  • Identify how potential penalties are applied in a controlled group.
  • Identify which firms are eligible for full or partial small business tax credit given average wages and firm size.
  • Estimate the potential penalties for not submitting ACA IRS reporting forms to the IRS

Internal Revenue Code provisions under The Affordable Care Act can result in huge penalties for employers. The high cost of non-compliance makes it imperative for employers, and the tax professionals that guide them, to be educated and aware of the current provisions in effect.

This self-study course will help you better understand the impact of the law, including:

  • How individual and employer-shared responsibilities are assessed;
  • The availability of premium tax credits for individuals and small businesses; and,
  • New IRS reporting requirements for firms with 50 or more full-time equivalents.

In addition, you'll discover how to use this information for tax planning opportunities. This topic is constantly changing, so make sure you're up-to-date on this latest information.

Topics covered:
  • Tax: Technical: Individual income taxation : Credits, Foundational
  • Tax: Technical: Employee benefits: Affordable Care Act (ACA), Foundational

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