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Small Business Health Insurance Reimbursement & Penalty - 6707
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Many small businesses had previously found it simpler and less expensive to reimburse premiums paid by employees for individual policies rather than purchasing a group policy. However, in Notice 201354 the IRS ruled that, effective in 2014, such a program violated the market reform rules of the Affordable Care Act, subjecting the business to a $100 per day per participant penalty under IRC §4980D. While Notice 201517 offered a reprieve, that reprieve was temporary.

 Export to Your Calendar 11/3/2016
When: 2:00 PM - 4:00 PM
Where: Webinar/Webcast
United States
Contact: April Deneault

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Acronym ED091W
CPE 2 hours
Category
Taxation
Level Intermediate
Vendor Nichols Patrick CPE
Who should attend

All CPAs  with small business clients

Prerequisite
None
Fees: Early Bird
Standard
Member N/A
$79
Non-Member: N/A
$79

Description 
Many small businesses had previously found it simpler and less expensive to reimburse premiums paid by employees for individual policies rather than purchasing a group policy.

However, in Notice 201354 the IRS ruled that, effective in 2014, such a program violated the market reform rules of the Affordable Care Act, subjecting the business to a $100 per day per participant penalty under IRC §4980D. While Notice 201517 offered a reprieve, that reprieve was temporary.



Specific topics include:

  • Revenue Ruling 61146
  • Notice 20081
  • Nature of the penalty under §4980D
  • Notice 201517

Objectives

  • Learn background of pre-ACA rulings that endorsed the reimbursement option
  • Learn current status of these rulings:
  • Learn steps businesses need to take to be in compliance

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