Drake Software blog for tax pros, covering tax, IRS news, and more
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…
Read more about IRS Issues Employer Guidance For Health Care
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
Alliance Formed With CPA Australia on Potential Rollout of Online Identity Tied to CPA DesignationNovember 10, 2014 10:40 AM Eastern Standard TimeNEW YORK--(BUSINESS WIRE)--The American Institute of…
New Enrollments in the Affordable Care Act Will Fall Short of the Level NeededThe Department of Health and Human Services announced this week that new enrollments in the Affordable Care Act will fall…
Read more about Administration Cuts Projections 30 Percent For 2015 ACA Enrollment
Move Surprises Those Following the CaseThe US Supreme Court has elected to take up the issue of tax credits given to users of the federal health exchange, setting the stage to resolve one of the most…
Read more about Supreme Court Takes Up Obamacare Subsidies Appeal
IRS Commissioner John Koskinen explains in this new video how the Affordable Care Act will affect you and your clients.Watch this and other videos on the IRS YouTube Channel. Source: Internal Revenue…
Read more about Affordable Care Act: IRS Commissioner Explains What to Expect at Tax Time
DEPARTMENT OF THE TREASURYInternal Revenue Service This document contains proposed regulations that prescribe how a partnershould measure its interest in a partnership’s unrealized receivables and…
Read more about Certain Distributions Treated as Sales or Exchanges
In Guinea, Liberia and Sierra Leone WASHINGTON — The Internal Revenue Service today issued two items of guidance in response to the need for charitable and other relief due to the Ebola outbreak in…
Read more about IRS Announces Tax Guidance Related to Ebola Outbreak
NEW YORK, Nov. 3, 2014 /PRNewswire/ -- The open enrollment period for health plans under the Affordable Care Act (Obamacare) begins on November 15, 2014. However, a new survey of former participants…
Read more about Bankrate Survey Says 51% Will Not Renew With ACA Exchanges
