Anyone know when we will get our W2's for the employees laid off in 2016? I would guess they are being mailed out oppose to electronic.
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EIC, CTC/ACTC, or AOTC....yeah right. How many people working at Devon qualified for those credits.?
The order that Pres. Trump signed DID NOT repeal the ACA, it is just a step to get it back into Congress for discussion to repeal it. Oklahoma did not expand Medicaid, like many other states. There are some exemptions available, however, with the severance package and the offer of COBRA (which is just as unaffordable as Obamacare), it IS NOT going to eliminate the penalties. Your filing this year is based on 2016. An order written in 2017 applies only to the 2017 tax year. The President CANNOT sign an executive order that eliminates tax penalties. That's the job of Congress.
Since some former employees were probably without health insurance for a time, repeal to the health insurance mandate will likely have affect on your 2016 tax return. Hopefully, a positive affect.
Devon will be compliant with IRS regulations on getting W-2's to employees and former employees.
On a side note, IRS isn't even accepting e-filings with EIC, CTC/ACTC, or AOTC until February 15, due to the PATH Act of 2015 that is in effect for it's first tax filing season, so what's the big rush??? Refunds on taxpayers claiming any of the mentioned credits could take up to 21 days after that - or 2nd week in March.
Questions go to IRS.gov