On Friday, Nov. 18, the IRS released Notice 2016-70, which automatically extends the deadline for 1095 employee fulfillment by 30 days, and also reinstitutes the “good faith effort” standard that applied last year. Though this announcement essentially extends the same benefits employers were granted last year, the extension is shorter and does not apply to the filing deadlines.
It’s only the second year of Affordable Care Act (ACA) reporting, but a year can yield some hefty changes.
The state of the act and its standards for compliance can be confusing, to say the least. Reporting under the ACA is still a new practice, and no matter how well you know your business, there are bound to be bumps along this newly paved road.
One of the first areas of the law that is being targeted is how full-time employees are defined. Under the Employer-Shared Responsibility Tax,
This week the Congressional Budget Office projected that the Affordable Care Act will reduce the amount of hours worked
Data gathering seems like a simple, if tedious, task. So why is it that so many employers struggle with this exact task when attempting to complete ACA reporting?
“Full-time employees.” The concept seems simple enough, but nothing ever is with the ACA. The forms are unclear, meticulous tracking of employee hours of service is often required, and tracking methods are complex.
The Supreme Court released their opinion on June 25, 2015 in which they rejected a challenge to the Affordable Care Act that would
Factors that influence the length and start date of your Measurement Period:
The final regulations are 227 pages in length, not to mention a few additional pages in a fact sheet and FAQ.