Q. 1) Generally, in 2016, which of the folloing events will trigger the Employer Shared Responsability...

Q. 1) Generally, in 2016, which of the folloing events will trigger the Employer Shared Responsability Penalty?

a) A part-time employee who works for employer with 50 or more employees, receives qualified health insurance from the Marketplace, and receives the premium tax credit.

b) A full-time employee who works for employer with 50 or more employees, receives qualified health insurance from the Marketplace, and receives the premium tax credit

c) A part-time employee who works for an employer with fewer than 50 employees, receives qualified health insurance from the Marketplace, and receives the premium tax credit.

d) A full-time employee who works for employer with fewer than 50 employees, receives qualified health insurance from the Marketplace, and receives the premium tax credit.

Solutions

Expert Solution

Generally, in 2016, which of the folloing events will trigger the Employer Shared Responsability Penalty?

Answer is b) A full-time employee who works for employer with 50 or more employees, receives qualified health insurance from the Marketplace, and receives the premium tax credit.

Explanation: The provision applies to employers called applicable large employers that employ on average at least 50 full-time employees (including FTEs) during the preceding calendar year. If you are an applicable large employer, you may owe the payment if at least one of your full-time employees receives the premium tax credit.

ekkarill92 answered 2 years ago

Next > < Previous

Related Solutions

Generally, in 2017, which of the following events will trigger the Employer Shared Responsibility Penalty?

What was the process by which ASU 2016-1 proposed changes were shared with the business, accounting,...

What was the process by which ASU 2016-1 proposed changes were shared with the business, accounting, and investment communities?

Which payroll taxes are both the employer and employee responsible for paying generally an equal amount?...

Which payroll taxes are both the employer and employee responsible for paying generally an equal amount? Please explain.

The following events apply to Gulf Seafood for the 2016 fiscal year: 1. The company...

The following events apply to Gulf Seafood for the 2016 fiscal year: 1. The company started when it acquired $37,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $14,900 cash. 3. Earned $21,300 in cash revenue. 4. Paid $14,000 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, 2016, the cooktop has an expected useful life of five years and an estimated salvage value of...

1. Which of the following ad types does NOT trigger emotional responses? a. fear appeals b....

1. Which of the following ad types does NOT trigger emotional responses? a. fear appeals b. humorous c. comparative d. image ads Which of the following identifies a basic attitude that marketers measure in evaluating ads? a. attitude toward the line extension b. attitude toward the market c. attitude toward the company d. attitude toward the ad From a marketing perspective, pricing should be about the a. profit. b. company. c. competition. d. customer. Profit maximization occurs when marginal revenue...

APL, Inc. began operations on January 1, 2016. The company does not generally carry Work in...

APL, Inc. began operations on January 1, 2016. The company does not generally carry Work in Process Inventories at the end of the year. Variable product costs per unit were the same for 2016, 2017 and 2018 and total $68 per unit. Total Fixed Overhead Costs are $600,000 per year. Variable Selling and Administrative Costs are $9 for each unit sold. Fixed Selling and Administrative Costs are $230,000 per year. The Selling Price is $450 per unit for all three...

1. Which of the following events is not a transaction that would be recorded in a...

1. Which of the following events is not a transaction that would be recorded in a company's accounting records? A. The purchase of equipment for cash B. The purchase of equipment on account C. Investment of additional cash in the business by the owner D. The Death of a key executive 2. On the statement of financial portion, how are assets and liabilities normally presented? A. Assets are presented in order of liquidity: liabilities are presented in the order in...

Which option? Find the area of the specified region. Shared by the cardioids r = 6(1...

Which option? Find the area of the specified region. Shared by the cardioids r = 6(1 + sin θ) and r = 6(1 - sin θ)? 18(3π - 8) 9(5π + 8) 18(3π + 8) 1636 Find an equation for the line tangent to the curve at the point defined by the given value of t. x = sin t, y = 8 sin t, t = y = 8x y = -8x + 8 y = 8x + y...

During 2016, the following events and transactions occurred: 1. JR recognized sales revenues of $108,000. It...

During 2016, the following events and transactions occurred: 1. JR recognized sales revenues of $108,000. It incurred cost of goods sold of $62,000 and operating expenses of $12,000. 2. JR issued 1,000 shares of its $5 par common stock for $14 per share. 3. JR invested $30,000 in available-for-sale securities. At the end of the year, the securities had a fair value of $35,000. 4. JR paid dividends of $6,000. The income tax rate on all items of income is...

The following events apply to Montgomery Company for 2016, its first year of operation: 1. Received...

The following events apply to Montgomery Company for 2016, its first year of operation: 1. Received cash of $42,000 from the issue of common stock. 2. Performed $61,000 of services on account. 3. Incurred $9,100 of other operating expenses on account. 4. Paid $34,000 cash for salaries expense. 5. Collected $41,000 of accounts receivable. 6. Paid a $4,300 dividend to the stockholders. 7. Performed $10,800 of services for cash. 8. Paid $6,800 of the accounts payable. Required a. Record the...

Subjects