SyncStream Simplifies ACA and EEOC Compliance

The Affordable Care Act's (ACA) employer mandate requires Applicable Large Employers (ALEs) offer affordable health insurance that provides minimum value to 95% of full-time employees and their dependents. These companies must submit 1094 and 1095-C tax forms about their provided health benefits to the Internal Revenue Service (IRS). This mandated filing is extremely complex and can require a significant amount of your employees' effort and time. Not to mention that noncompliance leads to significant financial penalties. Simarily, the Equal Employment Opportunity Commission (EEOC) requires employers that employ 100 or more employees to submit annual workforce data using the EEO-1 form. With SyncStream you get industry leading expertise and unmatched customer service.

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Cutting Edge Technology

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Who we serve...

Employers

Payroll Vendors

Benefit Systems

Advisors

TPAs

PEOs

SyncStream is not a one-size-fits-all solution. We handle complex and custom filing situations. Bring our latest compliance tools and expertise to your business by contacting us today. Simplify your compliance with SyncStream. Our solutions are easy to integrate, user-friendly, and have the complex laws built right into the logic taking away the risk of noncompliance. Our products can also be white-labeled for resale.

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SyncStream has many software solutions available for tracking, reporting and filing. Each program has different features to meet employer's particular needs. We also support state level filings that have recently become mandated, such as the New Jersey ACA filing and the Washington DC ACA filing.

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Learn more about SyncStream's technology solutions today — fill out our contact form or call us at 877-291-9256.

Read our most recent Blog entries!

ACA Reporting for 2020 Just Got More Complicated!

Written by Arthur Tacchino, J.D., Chief Innovation Officer on Wednesday, 15 July 2020

This year has been an odd one to say the least. We have seen one unprecedented situation unfold after another and it is unclear if there is an end in sight. For employers that are struggling to decide whether to lay off employees, comply with state and local ordinances that change from week to week, and possibly how to fund the next payroll cycle Affordable Care Act (ACA) compliance may not seem like a real concern, or just a minor one in the back of an employer’s mind. However, if gone unaddressed ACA noncompliance could produce a knockout blow (financially speaking) just at a time where employers may be getting back on their feet financially.

ACA Penalties have no statute of limitations!

Written by Arthur Tacchino, J.D., Chief Innovation Officer on Tuesday, 25 February 2020

We are neck deep in the current ACA reporting cycle and while the main focus of employers should be meeting their fulfillment and e-filing deadlines, it is important they take note of a clarification recently made by the Internal Revenue Service. The IRS has stated that penalties for noncompliance with the Employer Shared Responsibility Tax have no statute of limitations on when the IRS can impose them. This means that employers are never “safe” or “out of the woods” from receiving penalty letters, even from the very first reporting season, which happened in the spring of 2016. This clarification came from the Chief Counsels Office at the IRS, and the entire memorandum can be read here: https://www.irs.gov/pub/irs-lafa/20200801f.pdf

Fifth Circuit Rules Individual Mandate Unconstitutional: However, case gets one step further from the Supreme Court

Written by Arthur Tacchino, J.D., Chief Innovation Officer on Friday, 20 December 2019

On Wednesday, December 18^th, The Fifth Circuit Court of Appeals ruled in a 2-1 vote that the individual mandate of the Affordable Care Act was unconstitutional. As a refresher, the individual mandate required U.S. citizens to purchase healthcare coverage or pay a penalty. However, the penalties were zeroed out as part of the 2017 Republican Tax Reform bill. The zeroing out of the penalties is what initially started the legal process that the Fifth Circuit ruled on yesterday.

IRS Grants 2019 ACA Reporting Relief

Written by Arthur Tacchino, J.D., Chief Innovation Officer on Monday, 09 December 2019

On December 2^nd the Internal Revenue Service (IRS) released Notice 2019-63, which provides three sets of relief for the upcoming Affordable Care Act (ACA) reporting year. This an early Christmas gift for employers and health insurers that are subjec to ACA reporting. Two types of relief are very familiar if you have any experience with ACA reporting. The third type of relief is new to this reporting cycle and only applies to health insurers that are required to provide the B Series forms, so it is somewhat irrelevant to employers in their compliance journey.

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