Changes to premium tax credit could increase penalty risk for some businesses
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit. The American Rescue Plan Act (ARPA), signed into law in March 2021, made several significant enhancements […]
More guidance issued on Massachusetts sales and meals tax changes
We advised you a couple months ago that beginning April 1, Massachusetts had enacted accelerated remittance of sales and meals tax. Few details were available at that time, but the state has recently updated its guidance so we wanted to provide you more information. According to the state, businesses that had $150,000 or more in sales […]