Notice 2015-17 Relief from ACA penalties and 2% shareholder relief

[equinecpa]

Yeah...at least some relief for 2014...and 2015. I guess better late than never? I have some W-2's to amend...

http://www.forbes.com/sites/anthonynitti/2015/02/18/in-last-minute-move-irs-spares-small-employers-big-obamacare-penalties-for-2014/

Carolyn

[TXEA]

This is welcome news.....Just trying to figure out what to do for those clients who quit reimbursing middle of the calendar year due to the rules as we knew them.

[TAX4US]

What do we do with ones that had these amounts stuck in w-2 subject to all taxes to avoid the DOL rules. They were also included in 941 etc. At least from the ones I have seen so far.

[geekgirldany]

Well good to read they finally published a Notice on it.

From my understanding though, the employer would have to reimburse all the employees for their health insurance not just the shareholder. For example, 5 employees, 1 is a shareholder who is the only one being reimbursed for health insurance. This is still not allowed, correct?

[TXEA]

GeekGirl - that is allowed now. The employee shareholder CAN discriminate through 6/30/15 (and maybe 12/31/15).

[TXEA]

What do we do with ones that had these amounts stuck in w-2 subject to all taxes to avoid the DOL rules. They were also included in 941 etc. At least from the ones I have seen so far.

time to amend I think

[geekgirldany]

GeekGirl - that is allowed now. The employee shareholder CAN discriminate through 6/30/15 (and maybe 12/31/15).

Thank you... I will have to re read again as I definitely did not understand that part of it... being sick can do that.

Well, thankfully I will only have two I will have to amend which isn't bad.