The Affordable Care Act (ACA) was originally passed in 2010 but is rolling-out in phases and will be fully implemented by 2020. The ACA is considered the most significant government expansion and regulatory overhaul of the U.S. healthcare system since 1965, and will have a sweeping impact on the tax-preparation industry. Tax preparers will be responsible for assisting clients in proving compliance with the Individual Mandate, reconciling the Premium Tax Credit, and a variety of related issues. The Affordable Care Act For Tax Professionals- An Overview covers all the essential topics related to individual taxation, as well as summary details on employer responsibilities. This course is highly recommended in advance of the filing season.
The Affordable Care Act for Tax Professionals: An Overview
The Tax University CE course on The Affordable Care Act for Tax Professionals- An Overview includes the following lessons and learning objectives:
Lesson 1 – Overview
- Identify the Essential Health Benefits (EHBs) that must be covered in all new plans
- Identify what a Health Insurance Marketplace is and how they are created
- Determine when an employer meets the Employer Shared Responsibility mandate
Lesson 2 – Individual Shared Responsibility
- Identify who must comply with the individual shared responsibility
- Determine the tax penalties for failure to comply with the individual shared responsibility
- Recognize the new ACA tax forms and changes to existing tax forms
- Identify the types of health coverage that fulfill the requirements of the individual shared responsibility
- Recognize who is exempted from compliance with the individual shared responsibility
Lesson 3 – PTC
- Identify how eligibility for the PTC is determined
- Identify how the PTC is delivered to the taxpayer
- Determine how the PTC is reconciled
- Recognize what Cost-Sharing Subsidies are, and how are they related to the PTC
Lesson 4 – Additional ACA-Related Tax Laws
- Identify how tax treatment of over-the-counter drugs has been changed by the ACA
- Recognize the additional penalties for HSAs and MSAs as a result of the ACA
- Identify the additional taxes on Medicare coverage due to the ACA
- Determine what the Net Income Investment Tax is and who will be responsible to pay it
- Recognize the changes in the deductibility of unreimbursed medical expenses
Lesson 5 – ACA Provisions Impacting Employers
- Identify what the Employer Mandate provision requires, and when
- Determine who is considered an Applicable Large Employer (ALE) in the Employer Mandate provision
- Identify the tax penalties for failure to comply with the Employer Mandate
- Identify how companies can qualify for the Small Business Health Care Tax Credit
- Recognize the reporting responsibilities for employers due to enactment of the ACA
Lesson 6 – How the ACA Will Affect Your Tax Practice
- Recognize the marketing limitations in relation to IRC 7216
- Identify what a Navigator is
This course is based on tax year 2016 IRS regulations and publications available as of September 1, 2016. Any changes to the code, provisions, regulations or laws made later during 2015 will not be addressed.
Publication Date: September 2018
IRS Course #: A360U-T-00091-18-S
Program Level: Basic
Prerequisites/Advanced Preparation: No advanced preparation is needed
Delivery Method: QAS Self-Study
License Term: 180 days
CPE/CE Credits: IRS 4 CE Federal Tax Law. One 50- minute period equals one CPE/CE Credit Hour
Field of Study: IRS – Federal Tax Law; National Registry of CPE Sponsors – Taxes
Passing Grade: Participants who answer a minimum of 70% correct on the final exam will receive a Certificate of Completion.
Record Retention: As an IRS-approved provider of continuing education The Tax University will report successful completion of this course to the IRS. You can access and view all completed continuing education credits through your online PTIN account.
Complaint Resolution Policy: Please contact our customer service department at 1-434-227-4480.
Refund Policy: 30-day money back guarantee. For refund assistance, please contact our customer service department at 1-434-227-4480.
The Tax University Offers Substantial Discounts When You Purchase Multiple Courses! All Discounts Appear At The Bottom Of The Order Page When More Than One Course Is Selected.
Click Here To Order the CE Course The Affordable Care Act for Tax Professionals- An Overview
For information regarding refund or cancellation policies click Here or if you have any questions or concerns, please contact us at 1-434-227-4480.