The Senate on December 3 approved by a margin of 52-47 a budget reconciliation bill, the Restoring Americans’ Healthcare Freedom Reconciliation Bill of 2015 (HR 3762), which repeals portions of the Patient Protection and Affordable Care Act (PPACA) (P.L. 111-148). The Senate version, in the form of
Read more →The IRS’s anticipated fiscal year (“FY”) 2015 budget took center stage at the IRS Oversight Board’s last meeting of 2014. Senior IRS officials remain concerned about potential funding reductions in FY 2015 but are committed to implementing unfunded mandates, such as the Patient Protection and Affordable Care
Read more →According to a report by the Treasury Inspector General for Tax Administration (TIGTA), the IRS needs to make improvements to strengthen security and to test controls for the Affordable Care Act Information Returns Project. The IRS is required to calculate and collect annual fees based on reports
Read more →Individuals liable for the Code Sec. 5000A shared responsibility payment will make their payments when they file their 2014 returns, William Smits, senior manager, IRS Wage & Investment Division, National ACA Outreach Coordinator for Individual Tax Provisions, reminded practitioners during a webcast sponsored by the American Institute
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