News

Today on November 18, 2016 the IRS sent out Notice 2016-70 announcing the extension for furnishing information returns 1095-C and 1095-B to recipients.  This will be the second year for mandated ACA reporting and the second year an extension has been granted. Last year the 2015 mailing deadline was extended from January 31st to March ... IRS Extends the Deadline to Furnish Forms 1095-C & 1095-B

Tuesday night’s election outcome defied pollster predictions and Trump’s entrance to the White House raises some questions about the future of the Affordable Care Act (ACA). During Trump’s presidential campaign he continually promised to repeal the ACA if he became president.  In fact he’s been quoted promising to get rid of it immediately.  This begs ... President Trump and the Fate of the ACA

The ACA has become a hot topic during the presidential debate and both candidates admit, on varying levels, that there needs to be some changes made. Donald Trump would like to replace the law entirely whereas Hilary is looking to patch it up. Most of the qualms revolve around the fact that health care is ... Affordable Care Act Premiums Expected to Increase in 2017

You most likely are aware that the implementation of IRS PATH Act (Protecting Americans from Tax Hikes Act) created major changes for 1099-MISC and W-2 reporting for tax year 2016.  Most significant is the deadline for reporting 1099-MISC Box 7-Non Employee Compensation and W-2 e-filing to the IRS.  Prior to this change the IRS e-filing ... Important Changes for Tax Year 2016

Nelnet Business Solutions, a leader in providing comprehensive campus commerce solutions which empower more than 750 higher education institutions, has announced a new partnership with Tab Service Company to develop an interface between Nelnet’s payment processing platforms and 1098-T processing services from Tab Service Company. “The ability to integrate campus payment history with the generation ... Nelnet Business Solutions Partners with Tab Service Company to Provide 1098-T Processing

As of June 30, 2016 Tab Service Company is happy to announce the successful completion of complying with the new ACA reporting for its customers.  These complex reporting requirements for health insurance providers and policy issuers were accompanied by new IT and Human Resource burdens that many companies were not prepared to handle. At many ... TAB SERVICE COMPLETES A SUCCESSFUL ACA REPORTING YEAR

Yesterday afternoon the IRS released their 4th notice concerning ACA reporting dated 2016 and it is still 2015! This notice extends the due dates for the 2015 information reporting requirements under section 6055/6056.  The cause?  It is most definitely the pushback from ALEs and Policy Providers regarding the unrealistic timeline for this new and complex ... IRS Extends ACA Reporting Due Dates – December 28th 2015

CHICAGO, Sept. 16, 2015 /PRNewswire/ — Tab Service Company has been a leader in 1099 tax form outsourcing services for decades.  The tax form processing application TSC1099, is a complete cloud-based reporting and compliance solution.  It enables businesses to upload data that is quickly processed, printed, mailed and e-filed at our service center each year. The ... TSC1099 introduces their new Affordable Care Act (ACA) Reporting & Compliance application

Starting in the 2015 reporting year if an ALE does not offer affordable coverage or MEC (Minimum Essential Coverage) to full time employees and their dependents they will be subject to a shared responsibility payment to the IRS. You as the employer will be responsible for making this payment if the full-time employee that was ... What happens when an ALE does not offer affordable coverage?

Just today, the US Supreme Court released their decision to uphold the nationwide tax subsidies for the Affordable Care Act.  This comes as a big relief for many because of the amount of time, restructuring, and implementation planning that has already been poured into the law. Not only has America invested time but, they have ... Supreme Court Upholds Affordable Care Act Subsidies

The Affordable Care Act (ACA) requirements will be enforceable for Applicable Large Employers (ALEs) in the upcoming filing season.  For the reportable tax year 2015, employers with 50-99 full-time employees are candidates for Transitional Relief if, and only if, they meet specific criteria.  The other portion of ALEs (companies with 100+) do not get this break.  As ... How do large employer’s plan to comply with ACA requirements?

The Affordable Care Act brought about many significant changes for employers, one of them being how we classify part-time workers.  Beginning back in January, 2014 companies started facing the decision on whether they would “play or pay”.  Play would mean adhering to the ACA guidelines in tracking variable employee hours to determine if they meet ... Variable Hour Tracking Under the Affordable Care Act