ACA Penalties on the Way, IRS Letter 5699 Requests Missing Reporting

Recently, the IRS began sending Letter 5699 to request missing 2015 Affordable Care Act (ACA) reporting from Applicable Large Employers (ALEs).  A sample of this letter is available here. In the Letter 5699, titled “Request for Employer Reporting of Offers of Health Insurance Coverage (Forms 1094-C and 1095-C)”, a tax compliance officer is notifying the [Read More…]

Are American Consumers Taking On Too Much Debt?

How much consumer debt is too much? This infographic from Visual Capitalist uses extensive Equifax data to try and answer this question. Courtesy of: Visual Capitalist

ACA Update: IRS Extends Distribution Deadline for 1095 Forms

Were you greeted at work today by news of the IRS extending the distribution deadline for 1095 forms? The Equifax ACA team has reviewed the official documentation from the IRS to provide you with the important details you need. Following consultation with stakeholders, the Department of the Treasury and the IRS have determined that a substantial [Read More…]

Black Friday Brings A Spike in Credit Card Account Openings

For the past four years, the Sundays before and after Black Friday have seen a fairly consistent 50% increase in the opening of retail credit card accounts over an average day in November or December. New retail credit card openings peak on Black Friday, when consumers on the average have continued to open nearly 3 [Read More…]

ACA Update: Election Aside, 2016 Reporting Requirements Remain

While there has been significant speculation about how the results of the 2016 election will impact ACA, the current regulations and accompanying penalties are still in place. The new administration would have a difficult time making any significant changes before the January 31, 2017 deadline to furnish 1095-Cs to employees and enrolled individuals. The Republican [Read More…]

In the News: How Will Rising ACA Premiums Affect Employers?

By now, you have likely seen numerous headlines and reports about Affordable Care Act (ACA) health insurance premiums increasing an average of 25% for the 2017 plan year. While this increase may be worrisome for plan subscribers, it’s important for employers to understand the implications of these rising ACA premiums as well. What do ACA (also [Read More…]

Equifax in Action: ACA Management Solutions

The Affordable Care Act (ACA) has brought unprecedented changes to workforce management and compliance. Employers often underestimate the amount of time and expertise required to effectively manage ACA compliance tasks such as data collection, calculating eligibility, completing tax forms, and more. That’s why organizations of all sizes turn to Equifax and our award-winning ACA Management Solutions. [Read More…]

IRS Releases Final 2016 ACA Forms and Instructions

On August 1, the Internal Revenue Service released the much-anticipated draft 2016 instructions for Affordable Care Act Forms 1094-C and 1095-C, which are used by Applicable Large Employers (ALEs) to report on employer-provided health insurance offers and coverage. On September 30, 2016, the IRS posted new versions of the instructions and forms. Although the information [Read More…]

MLA Final Rule: Updates based on the August Interpretative Rule

As the Department of Defense’s (DoD) Military Lending Act (MLA) Final Rule (also known as the July 2015 Final Rule) takes effect October 3, 2016, many lenders are still struggling to understand just how these updates will impact them. Are their loans covered? Are they not? Do they need to create two sets of disclosures, [Read More…]

Equifax Forms Strategic Alliance with Adobe to Make IXI Digital Targeting Segments Available Within Adobe Audience Manager

Advertisers Can Now Define Target Audiences Through Estimated Financial Behaviors and Purchase Propensities McLean, VA – August 31, 2016 – Equifax Inc. (NYSE:EFX), a global information solutions provider today announced that its division, IXI Services, and Adobe today have joined forces to make IXI’s Digital Targeting Segments available as a selection criteria within Adobe Audience [Read More…]