News & Resources

IRS To Enforce Health Coverage Reporting On 2017 Returns

  The IRS has informed taxpayers and practitioners that it will not accept electronically filed 2017 tax returns that fail to address the Affordable Care Act’s (ACA’s) health coverage requirements. In addition, paper returns that don’t indicate health coverage may

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Employer Provisions Contained In The Obamacare Replacement Bills Introduced In Congress

  Below are some updates on the employer provisions contained in the Obamacare replacement bills introduced in Congress. Please contact your Somerset advisor at  if you have any questions. Repeals the ACA’s taxes with an effective date of 2018 and beyond.

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Executive Order Issued By President Trump

  President Trump has issued an Executive Order intended to minimize the economic and regulatory burdens of the Affordable Care Act (“ACA”). Please note the order has NO immediate effect on employers, many of whom are in the process of

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Affordable Care Act (ACA) Information Reporting

  Affordable Care Act (ACA) generally requires individuals to obtain healthcare insurance; compels Applicable Large Employers (ALEs)1 to offer affordable coverage to all of their full-time employees; and provides subsidized healthcare premiums to qualifying individuals who purchase coverage through the

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