ACA Reporting Deadline Fast Approaching

ACA Clock

Tic toc tic toc… the Affordable Care Act (ACA) reporting deadline is fast approaching, are you ready? By now the media has covered the ins and outs of the Affordable Care Act, from the new sections of the Internal Revenue Code to the new IRS forms, employers have a lot of information to absorb.

Here is what you need to know:

  • The U.S. Department of the Treasury and IRS published reporting provisions for the Affordable Care Act on March 10, 2014.
  • Section 6055 reporting is the reporting on minimum essential coverage by health insurance issuers, certain employers, and other providers of minimum essential coverage.
  • Section 6056 reporting is the reporting on health insurance coverage offers by employers that sponsor group health plans.
  • Reporting is more complicated than just benefit information.

Information needed for ACA reporting:

  • Payroll Information
  • Benefit Information
  • Compliance Information

ACA reporting requires more than just benefit information. The new requirements involve many sections of your company, payroll, benefits, and compliance. To effectively report you need moving calculations, monthly calculations, exact time keeping, benefit data, and payroll data. Tracking is as important to remain ACA compliant as reporting is.

 

To learn more about your options for ACA tracking, monitoring, and reporting, join our webinar August 25, 2015 at 1PM EDT.

Sign Up Here >>> https://attendee.gotowebinar.com/register/3120744221316579842

 

 

Comments

  1. This proposed tax insacree & penalty is a sure killer of business at exactly the wrong time.It will also be a boon to tax advisors who proactively work with their clients to avoid this tax.Keep up the great work on the blog & twitter!David

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