Small employers with insured health plans do not have to provide reports to their employees or to the IRS. Employers with 50 or more full-time and full-time equivalent employees must report for this year. Transition relief does not apply for reporting purposes. Employers who will file 250 or more information returns must do so electronicallyContinue reading “10 ACA Reporting Reminders and Tips”
Tag Archives: Employer Responsibility Requirements
Affordable Care Act’s Employer Reporting Deadlines Loom!
Employers are facing the impending deadlines for the ACA’s employer reporting requirements. As of today there are only 116 calendar days left until employers have to file statements to full-time employees! Employers who are required to report are generally those who meet the definition of “applicable large employer” or ALE. ALEs are employers with 50Continue reading “Affordable Care Act’s Employer Reporting Deadlines Loom!”
Decoding “98 Percent Offer Method” from Line 22 (on Form 1094-C)
Form 1094-C is the transmittal form that is sent to the IRS along with a firm’s Form 1095-Cs. As noted in an earlier blog, this form is far more complicated and confusing than a mere “transmittal form” would suggest. As a reminder, the option on line 22 are: Qualifying Offer Method Qualifying Offer Method TransitionContinue reading “Decoding “98 Percent Offer Method” from Line 22 (on Form 1094-C)”
3 ACA Questions Employers Need to Have Answered – Yesterday! Question 3: Have you qualified for transition relief?
Once employers know whether they’re an ALE (applicable large employer) and whether they’re part of a controlled group, they have baseline information to help determine just when compliance with the Employer Shared Responsibility (ESR) requirements is required. Question 3: Have you qualified for transition relief? Transition relief – or the lack of it – determinesContinue reading “3 ACA Questions Employers Need to Have Answered – Yesterday! Question 3: Have you qualified for transition relief?”
3 ACA Questions Employers Need to Have Answered – Yesterday! Question 2: Are You Part of a Controlled Group?
Question one (1) of the three (3) questions that employers or their advisers need to have answered yesterday addressed how an employer must count employees for ACA to determine the employer’s size. The next question that employers must be able to answer – Question 2 – is whether the employer is a member of anContinue reading “3 ACA Questions Employers Need to Have Answered – Yesterday! Question 2: Are You Part of a Controlled Group?”
3 ACA Questions Employers Need to Have Answered – Yesterday! : Question 1
Employers who have stayed on the sidelines or merely dipped a toe into ACA compliance now realize that crunch time is rapidly approaching. Large employers will have to report to the IRS about their ACA compliance in early 2016. For employers or their advisors, there are three (3) questions that need to be answered –Continue reading “3 ACA Questions Employers Need to Have Answered – Yesterday! : Question 1”
The Recipe for the “Seasonal Exception”
Confusion is a perennial state when addressing application of the rules of ACA – or so it seems. And, one of the more confusing aspects of the law is how to address seasonal employees. Some of the confusion clears away if you know what question you’re trying to address. If you’re attempting to determine ifContinue reading “The Recipe for the “Seasonal Exception””
“Grandmother What Big Teeth You Have”
I was asked today about steps employers with 50 to 99 full-time equivalent employees may take to avoid the rapidly approaching 2016 requirement that their health plans be treated as small employer plans – and all that entails. Some states are allowing existing plans to continue under the existing rules that allow these plans toContinue reading ““Grandmother What Big Teeth You Have””
First Compliance Step, Are You Big or Small?
Whenever you’re speaking with an employer about health insurance and the Affordable Care Act (ACA) , the first thing you need to establish is whether the employer is a large or small employer according to the ACA. Depending on whether an employer has 50 or more full-time equivalent employees (FTEs), the response you make toContinue reading “First Compliance Step, Are You Big or Small?”
Accountants and Other Strangers
We’ve been seeing a lot of media stories on tax filing and the Affordable Care Act. This is the first year when individuals will have to address whether they have coverage – or not – when they file their taxes. This tax change, like any change, causes conflict and opportunity. The conflict will arise whenContinue reading “Accountants and Other Strangers”
Compliance NOW! 