Understanding the ACA Reporting Requirements:
New Rules, New Responsibilities for 2020 Filing
The Affordable Care Act is still alive, and that means health care information reporting is still required this winter and into the foreseeable future. And January is crunch time for your 2019 health care information reporting. Is your organization ready?
Bad news: The IRS isn't going easy on you anymore. It's now fully enforcing the employer mandate and assessing strict penalties for mistakes on your form 1095s and 1094s.
The first four years of employer ACA reporting did not go smoothly, and lots of employers got tripped up. WARNING: Penalties have more than doubled for filing incorrect information returns, including Forms 1095! So the pressure is on to get it right the first time.
On Wednesday, January 8, join your peers for a complete primer on the health care information reporting rules. This is your last, best chance to learn the step-by-step requirements for completing each form correctly the first time, so you can avoid costly penalties.
These IRS reporting requirements are the single most important addition to your duties in a generation. And they continue to generate tons of confusion in the employer community:
- Who has to file these forms this year?
- Which form do we file – Form 1095-C or 1095-B?
- What are the deadlines?
- Must all employees be given the forms?
- What counts as an "offer of insurance"?
- Can we be penalized if an employee turns down our offer of health insurance?
- What's an authoritative transmittal?
- What happens if we don't have a dependent's Social Security number?
- What's a limited non-assessment period?
Get answers to these questions – plus your specific ACA reporting questions – from a true payroll expert, attorney Alice Gilman, editor of Payroll Legal Alert.
Because Forms 1095 and 1094 are "information returns," you can be slammed with huge penalties for failing to file correct forms or failing to provide employees with the correct copies. This webinar will ensure that you're in total compliance with the ACA in 2020, including the dreaded employer mandate, because it's still on the books. You'll discover:
- How to tell whether the health coverage you offer is "affordable" and provides "minimum value"
- How cafeteria plan benefits and wellness benefits factor into the affordable/minimum value determinations
- To whom offers of health coverage must be made
- Why it's crucial to get employees' waivers of coverage in writing
- How to track the data you'll need to complete the forms
- Which reporting regimen – the IRS has very generously given you three to choose from – will work best for you
- What you need to know about the affordability "safe harbors" that can help you avoid the employer mandate penalty
- When you must provide employees with their forms and when you must file with the IRS
It's crunch time for health care information reporting. But you don't have to be crunched. On January 8, learn how to get in compliance with the confusing ACA reporting rules so you can make this reporting a non-event in the future.
Sincerely,
Pat DiDomenico, Editorial Director
Payroll Legal Alert
P.S. Registration Bonus. Everyone who signs up will receive a copy of the 2020 Payroll Checklist. This 15-page, step-by-step compliance guide will notify you of each deadline and action item required for every pay period, month and calendar quarter of 2020. The handy checklist will walk you through an entire year of payroll compliance. The checklist has been updated to include every step of compliance with the Affordable Care Act.
P.P.S. Extra Added Bonus. You'll also get a full month of access to PayrollLegalAlert.com – our exclusive, members-only website packed with helpful articles, forms, tables and charts will help you improve every aspect of your payroll operation. So that you continue to benefit from PayrollLegalAlert.com, we'll continue your access automatically for just $89 per quarter, until you tell us "no, thanks" – your choice.
P.P.P.S. We promise you'll be satisfied. If Understanding the ACA Reporting Requirements fails to meet your needs in any way, we will refund 100% of your tuition – no hassles, no questions asked. Your conference materials, website access and registration bonus are all yours to keep.
About Your Speaker:
Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 26 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.
Credit Hours:
The use of this official seal confirms that this Activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.
January
8
- Wednesday, January 8th
- 1 - 2:15 p.m. ET
- 10 -11:15 a.m. PT
Since this is a webinar, you and your entire staff can attend in the comfort of your office or conference room for one low price! You may include as many people as you wish while listening on a single phone line or computer. Contact us for multi-site discounts.