Resources to Help Your Business Adapt to the New Health Care Law

9/30/2015 - By Judy Gund, CPA

The IRS has updated the ACA Information Center for Applicable Large Employers page on their website. They have added valuable information and resources that explain how the new health care law can affect businesses of all sizes, especially if your business is considered an applicable large employer (ALE).

Although the vast majority of employers will not be affected, you should determine if you are an applicable large employer. If you averaged at least 50 full-time employees, including full-time equivalent employees, during 2014, you are most likely an ALE for 2015. If you have fewer than 50 full-time employees, you may be considered an applicable large employer if you share a common ownership with other employers. As an applicable large employer, you should be taking steps now to prepare for the coming filing season.

The updated page also includes links to view trending topics that answer general questions and various outreach materials.For those that are having issues with this change, the IRS has also included a Transition Relief for 2015 resource that provides guidance and summaries of the type of help that they can provide.

If you have any questions regarding this transition, please feel free to contact any member of our Tax & Accounting Team.

About the Author: Judy Gund, CPA, Tax and Accounting Services Senior Manager. With over 25 years of industry experience, Judy specializes in individual, partnership, corporate, estate and trust tax return preparation, office management consultations and medical practice office setup.