Be Prepared for IRS ACA Reporting in Tax Year 2016

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It is important to know what information to gather before you begin the ACA reporting process. We’ve identified the following 7 key topics that may help with completing your ACA reporting in our Getting Started Checklist. Getting Started Checklist – ACA Reporting Identify common law employees First, you will need to identify all common law employees. According … Read more

ACA Deadline Extension for TY2016

ACA Deadline Extension

Today, the IRS announced an ACA deadline extension for issuing employee copies for tax tear 2016. ACA Deadline Extension Notice 2016-70 extends the due date for furnishing the 1095-C forms to the employees from January 31, 2017 to March 2, 2017. Although the IRS has issued this automatic 30-day extension, they still encourage employers to … Read more

Employer Shared Responsibility – IRS TY 2016

Employer Shared Responsibility - TY 2016 - Coffee shop working

The Affordable Care Act mandate specifies that employers must offer a majority of their employees affordable health coverage. For tax year 2016 and forward, you’ll need to calculate whether 95% of your full-time employees (and their dependents) were covered. If 95% of your eligible employees were not offered with affordable healthcare coverage, you may be subject … Read more

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