Drake Software blog for tax pros, covering tax, IRS news, and more
Effect of Sequestration on Small Business Health Care Tax Credit - Tax-Exempt Employers OnlyDue to sequestration, refund payments issued to certain small tax-exempt employers claiming the refundable…
Read more about ACA Basics Effect of Sequestration on Small Business
For Not Having Health Coverage If any of the following circumstances apply to you, you may qualify for a “hardship” exemption from the penalty:You were homelessYou were evicted in the past 6 months or…
Over the Outside Employment of IRS EmployeesWASHINGTON – The Internal Revenue Service (IRS) has insufficient controls over the outside employment or business activities of its employees, according to…
You May be in for a Big Surprise!Consumers who avoided signing up for a qualified health care plan under the Affordable Care Act may be in for a rude surprise. It turns out that the widely-quoted $95…
Read more about ACA Basics – Tax Penalties Loom For Those Not Registered
You May be in for a Big Surprise!Consumers who avoided signing up for a qualified health care plan under the Affordable Care Act may be in for a rude surprise. It turns out that the widely-quoted $95…
Read more about ACA Basics – Tax Penalties Loom For Those Not Registered (1)
Be Prepared for Tax Season A well-organized office that has prepared for the upcoming months can make the sailing much smoother during a fast-paced time. Here are some other important steps you can…
Second Open Enrollment PeriodAccording to a November 2014 Kaiser Family Foundation article, many uninsured Americans do not know when the open enrollment period for acquiring insurance begins this…
The IRS released final versions of the following guidance relating to the health care reform and health insurance. Notice 2014-76 provides a list of the section 5000A hardship exemptions that…
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What May and May not be Deducted as a Business ExpenseOne of the thornier questions at tax time centers on what may and may not be deducted as a business expense. The rules change frequently, in…
Under some Circumstances, you won’t have to make the paymentMost people must have health coverage or pay a fee (also known as “the penalty,” the “individual shared responsibility payment,” or the…
Read more about ACA Basics – Fee Exemptions for Not Having Coverage
