{"id":2327,"date":"2018-06-16T10:03:44","date_gmt":"2018-06-16T14:03:44","guid":{"rendered":"http:\/\/www.bakertillyvantagen.com\/?p=2327"},"modified":"2023-05-09T14:17:44","modified_gmt":"2023-05-09T14:17:44","slug":"new-aca-regulation-proposed-irs-releases-webpage-letter-227-clarification","status":"publish","type":"post","link":"https:\/\/sitepreviews.org\/bt-vantagen\/2327\/new-aca-regulation-proposed-irs-releases-webpage-letter-227-clarification\/","title":{"rendered":"New ACA regulation\u00a0proposed; IRS releases webpage for letter 227 clarification"},"content":{"rendered":"<p><em><strong>Expanding Mandatory Electronic Filing of Information Returns<\/strong><\/em><br \/>\nThe IRS has\u00a0proposed a regulation to expand the mandatory electronic filing of most information returns. Currently, the threshold that requires employers to file an information return electronically is 250 or more returns (per type of return) during a calendar year.<\/p>\n<p>The proposed change would remove the\u00a0rule that requires each type of form to be counted separately.\u00a0 Thus, all forms would be grouped together and totaled to calculate if the 250-return threshold applies.<\/p>\n<p>Important factors to consider if the proposed regulation passes:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Forms affected include Forms 1095-B and 1095-C, forms in the 1099 series, and Form W-2<\/li>\n<li>Corrected returns are not added to original returns when calculating the threshold.<\/li>\n<li>If enacted, the proposed change will be effective for information returns and\u00a0corrected returns filed after December 31, 2018.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>The IRS sites economic factors as the reason for this proposed change.\u00a0 It also asserts that waivers will continually be available for employers lacking access to electronic filing at a reasonable cost.<\/p>\n<p>_____________________________________________________________________________________________________________<br \/>\n<strong><em>IRS\u200b Releases Webpage on Letter 227\u00a0<\/em><\/strong><br \/>\nCertain applicable large employers (ALEs) now have a comprehensive <a href=\"https:\/\/www.irs.gov\/individuals\/understanding-your-letter-227\">digital resource<\/a> for understanding Letter 227. Samples are provided for each version of the letter.<\/p>\n<p><em><strong>What is Letter 227?<\/strong><\/em><br \/>\nIf an ALE is notified via Letter 226J that they may be liable for an Employer Shared Responsibility Payment (ESRP), they must submit their agreement or disagreement of the\u00a0proposed penalty to the IRS.\u00a0 The ALE will receive a version of Letter 227 confirming the IRS\u2019 reception of their response.\u00a0 Letter 227 explains the outcome of the IRS&#8217;s review of the penalty and the next steps to be taken resolve the penalty assessment.<\/p>\n<p>It is important to note that Letter 227 is not a bill; a notice will be sent to ALEs\u00a0to collect the ESRP.<\/p>\n<p>If you have any questions regarding this announcement or to learn how Baker Tilly Vantagen experts can help with ACA filing and compliance,\u00a0<a href=\"http:\/\/www.bakertillyvantagen.com\/contact\/\" target=\"_blank\" rel=\"noopener noreferrer\">contact our team.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Expanding Mandatory Electronic Filing of Information Returns The IRS has\u00a0proposed a regulation to expand the mandatory electronic filing of most information returns. Currently, the threshold that requires employers to file an information return electronically is 250 or more returns (per type of return) during a calendar year. The proposed change would remove the\u00a0rule that requires [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[32],"class_list":["post-2327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-benetips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New ACA regulation\u00a0proposed; IRS releases webpage for letter 227 clarification - Baker Tilly Vantagen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sitepreviews.org\/bt-vantagen\/2327\/new-aca-regulation-proposed-irs-releases-webpage-letter-227-clarification\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New ACA regulation\u00a0proposed; IRS releases webpage for letter 227 clarification - Baker Tilly Vantagen\" \/>\n<meta property=\"og:description\" content=\"Expanding Mandatory Electronic Filing of Information Returns The IRS has\u00a0proposed a regulation to expand the mandatory electronic filing of most information returns. Currently, the threshold that requires employers to file an information return electronically is 250 or more returns (per type of return) during a calendar year. 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