With the start 2015, it’s not too early for individuals and companies to think about planning. Following are some Act-related issues you may want to consider.
The provision took effect on January 1 2014, but the similar provision for was delayed until this year.
The has also issued guidance various provisions the , including how taxpayers should report assistance .
with fewer than 50 - employees, or the 50 when -timers are included, are exempt from the mandate the . Those with 50 to 100 - employees or equivalents may be eligible for ( publication TD 9655), but must satisfy a number requirements to obtain that .
with 100 or more - employees or equivalents may, under the , be required to provide in 2015 to only 70% qualified employees, rather than 95%. The has issued Notice 2014-49 describing two methods for determining if a worker is -: a , and a look-back .
Individuals will have to report their income for 2014 whether they had for all or the year, unless they were exempt from this requirement. Those who did not have the required and were not exempt may be liable for . Individuals who are exempt must file Form 9865 with their federal .
Individuals who obtained through federal and state s may be eligible for a subsidy. Those who received subsidies in states that do not operate their own marketplaces may be affected by the King v. Burwell case now before the Supreme Court. Oral arguments are scheduled for March, with a decision expected in June.
, with no more than 25 - employees, may be eligible for a under TD 9672. Other requirements include paying average annual wages no more than $50,000 , and maintaining a .
The was up to 35% premiums for years 2010 through 2013, then up to 50%. For years 2014 and after, an claiming the must obtain through the ( ) or qualify for an exemption.
For savings accounts, the announced in Rev. Proc 2014- that the annual limit deductions is $3,350 for individuals with self-only under a -deductible plan, and $6,650 for an covered under a family plan.