Group Health Plan Reporting:
ACA Prep and Compliance for the New Year
One simple mistake on 1095s = 2 tax penalty assessments
Normally, the IRS can collect one penalty per tax mistake. However, when it comes to reporting offers of affordable group health benefits to the IRS, it can assess two penalties for the same mistake. Even worse, tax penalties go only one way—up. And who wants to risk that?
Reporting offers of affordable group health benefits to your full-time employees on Form 1095 hasn’t gotten any easier. The IRS is still closely scrutinizing 1095 forms, and its penalty assessments hinge on how you code Form 1095-C. A single wrong code can trigger severe penalties from the IRS.
Don’t forget the IRS’ e-filing rules, which now require almost all employers to e-file their 1095-Cs and 1095-Bs. This is especially burdensome for small self-insured employers, who have never had to e-file their 1095-Bs before.
Is your organization prepared to be fully compliant?
Do you know who needs to file, which forms to submit and the deadlines? Are all employees required to receive these forms? What counts as an “offer of insurance”? What is an authoritative transmittal?
On December 10, join payroll expert, attorney and Payroll Legal Alert editor Alice Gilman as she answers the crucial questions and more. Don’t leave compliance up to chance—master the knowledge you need to avoid costly penalties.
Webinar Agenda
- The right forms the right way. Understand who has to file specific forms, which forms to file with the IRS and who has to e-file their 1095s.
- Coverage affordability. Understand if the health coverage you offer is “affordable” and provides “minimum value.”
- Penalties and safe harbors. Understand possible penalties, the necessity of coverage waivers and how affordability “safe harbors” can help you avoid the employer mandate penalty.
- Cafeteria plans. How cafeteria plan benefits and wellness benefits factor into the affordable/minimum value determinations.
- Completing forms correctly. Learn how to track the data you need, what the big deal is with Line 15 reporting and more.
- Reporting the right way. Determine which reporting regimen will work best for you (the IRS gives you three options).
In this 75-minute online training, you’ll learn how to:
- Take the complexity out of reporting. Learn the legally safe requirements for completing and filing your 2024 Forms 1095 and 1094.
- Prepare for new IRS scrutiny. Determine how to stay out of trouble now that the IRS is increasingly focused on ACA enforcement.
- Use the IRS’ codes to avoid common errors. File your ACA forms correctly to avoid the penalties that have doubled for mistakes.
Get answers to YOUR questions from presenter…
Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 35 years. She's written and edited several leading payroll publications, including Payroll Legal Alert, the Research Institute of America's Payroll Guide, the American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter.
Registration bonuses included:
Everyone who signs up will receive a copy of Payroll Checklist, a step-by-step compliance guide detailing every deadline and action item required for every pay period, month, and calendar quarter of the year. Use the checklist as a guide to total payroll compliance for the rest of the year.
You'll also receive one month of exclusive access to Payroll Legal Alert – our comprehensive online resource with timely advice, helpful articles, forms, tables and charts that will help you improve every aspect of your payroll operation. So that you continue to benefit from Payroll Legal Alert, we will continue your subscription after that for the then current rate, unless you tell us "no, thanks" – your choice.
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