Employer Compliance and Reporting Requirements
Employers contend with various compliance requirements, including both EEO-1 and ACA reporting. The Affordable Care Act (ACA), also known as Obamacare, includes an employer mandate that sets reporting requirements for applicable large employers (ALEs) that employ 50 or more full-time equivalent employees using the 1094 and 1095-C forms. SyncStream's ACA software solutions help employers manage the compliance process by gathering accurate data, generating reports and e-filing with the Internal Revenue Service (IRS). Read more about our ACA software solutions below to decide which is best for you.
The Equal Employment Opportunity Commission (EEOC) requires employers that employ 100 or more employees to report on summary workforce data related to their employees gender, job category and ethnicity using the EEO-1 form on an annual basis. SyncStream's EEO software solutions help employers manage the diverse and sensitive data, as well as product an accurate final report that is ready for submission to the EEOC. Read more about our EEO software solutions below to decide which best suits your needs as an employer.
We have many ACA tracking software options available to aggregate data, file forms and remain in compliance. SyncStream's ACA reporting services include our ACA Dashboard, Reporting Essentials, and E-File Complete. We are now also happy to offer solutions for state ACA filings as well. Below is a chart that compares the functionality of each ACA solution.
ACA Dashboard is our most comprehensive ACA employer reporting software. It manages all the aspects of ACA reporting and compliance, even in the most complex employment cases. Its main features include:
- Employee tracking: Import payroll data and hours worked to determine full-time status
- Data archive: See all of your measurement data for your records to eliminate IRS penalties from Letter 226J
- Report generating and filing: Generate your annual IRS report, populate data for your B- and C-series reports and e-file right from our data solution
Choose this software if you want an all-in-one solution that will take care of every aspect of your Affordable Care Act compliance checklist.
ACA Reporting Essentials
ACA Reporting Essentials collects information about employer plans and coverage to populate IRS reports. Our solution features include:
- Aggregation: Gathers information about coverage and employees
- Integration: Integrate your benefits administration system or upload your coverage and plan information
- Population: Fill in data for employee statements and B- and C-series reports automatically
- Report generating and filing: Generate reporting codes and e-file with the IRS right from the interface
Choose this software if you already use an employee tracking solution and want assistance with IRS reporting.
ACA Audit ensures compliance and avoids non-compliance penalties. Its features include:
- Proprietary business logic: Run checks that flag potential penalties
- Calculations estimates: Estimate your 4980H(a) and 4980H(b) calculations
- Reports and collaterals: Generate your ACA liability assessment reports and response collaterals
Use this solution to control your business' Affordable Care Act compliance.
ACA E-file Complete
ACA E-file Complete helps your company file reports on time and stay compliant. Its features include:
- Population: Populate 1095-B and 1095-C forms
- Editing: Preview and edit your forms and make necessary corrections
- Filing: E-file from our solution interface and monitor your status or print and mail your forms
Choose this solution if you already have ACA tracking and reporting and want to e-file your reports.
Equal Employment Opportunity Commission (EEOC) Solutions
Our EEOC solution includes:
EEO-1 Comply software helps businesses collect data and generate necessary reports for compliance. It includes:
- Compliance documentation: Use employee data to create documentation for evidence of compliance
- Report generating: Generate your annual EEO-1 report and identify any missing crucial data items
- Workforce analytics: Analyze pay and hourly data to identify and correct any disparities
Choose this solution to ensure compliance with EEO-1 and receive assistance or complete service from a dedicated support team.
Contact SyncStream for Professional ACA Reporting Today
The ACA management tools from SyncStream help you avoid an ACA audit from the IRS and remain in compliance. Our team is here for you and ready to help with whatever you need.
Learn more about our reporting solutions today. Contact us online or call 877-291-9256.
State ACA Filings
One of the emerging trends we are seeing in the compliance arena is that States have begun to require their own ACA filings. States like New Jersey and California have already passed state level legislation that requires their residents to purchase healthcare coverage or pay a penalty. Along with this state level mandate comes a reporting requirement on the state level that mirrors the requirements of the Affordable Care Act. In fact, New Jersey has simply adopted the 1095-C form as the required form at the State level.
In 2020 both New Jersey and Washington D.C. are requiring employers that employ NJ and Washington D.C. residents to submit 1095-C forms to their state and district systems. New Jersey's deadline for this filing requirement is March 31st, and for D.C. the deadline is June 30th. SyncStream fully supports the electronic filing of these forms for both New Jersey and Washington D.C.. We fully intend on supporting California in 2021 and any other state that begins introducing state level filings! Read more below about all state level activity.
New Jersey has passed the Health Insurance Market Preservation Act, which imposes an individual mandate requiring New Jersey residents to purchase healthcare coverage and report that to the state. In addition, employers must report and verify coverage that was offered to New Jersey residents. This means that applicable large employers (ALEs), defined the same as the in the Affordable Care Act (ACA), and all other providers of Minimum Essential Coverage (MEC) to New Jersey residents must send health-care coverage returns to the State for the 2019 Tax Year. New Jersey has clarified that employers will use the federal 1094 and 1095 B and C series forms to complete this filing requirement. Filing will be done on the State level through the same filing system employers use to file W-2 forms. SyncStream Solutions has been approved as a third party vendor to complete these filings on behalf of employers.
The District of Columbia's (D.C.) individual mandate requires residents to have qualifying coverage throughout 2019. In-state and out-of-state employers who withhold and pay payroll tax to D.C. or who employ D.C. residents, even if the employer does not withhold D.C. payroll taxes are subject to reporting. The reporting obligation is limited to Applicable Large Employers (ALEs). Employers who only have fully-insured coverage cannot rely on the insurer to provide 1095-B forms alone, they will still need to submit 1095-C and 1094-C forms to D.C. The first deadline for this reporting requirement is June 30th, 2020.
The State of California has also passed an individual mandate that requires residents to obtain qualifying coverage starting in 2020. In-state and out-of-state employers who employ California residents are obligated to file the same information found in the 1095 and 1094-C federal forms. Final details are not available, however it is anticipated that employers offering fully-insured coverage will rely on their insurance carrier to submit the data to the State, while employers offering self-insured coverage will submit their own data. The penalty for employers who fail to comply is $50 per individual not reported to the State. The first filing for employers will be due March 30, 2021.
The trend for States to implement their own individual mandate continues. Other states such as Rhode Island, Vermont and Massachusetts have taken some legislative steps towards this end.
Other states such as: Hawaii, Washington, Connecticut, Minnesota and Maryland are considering implementing an individual mandate along with an employer filing requirement.
Unemployment Claims Processing & Management
In this unprecedented time of the COVID-19 pandemic, employers are being hit from all sides. They are dealing with local, State, and Federal ordinances, stay-at-home orders, and guidelines that have radically impacted their workforces and the way they do business. The United States Bureau of Labor Statistics (BLS) is reporting the highest unemployment rate since the great depression. We are seeing all-time highs in first-time claims being made by unemployed individuals. Unemployment claims processing has become more important than ever purely by the volume at which it is necessary. Not to mention that if employers participate in the process correctly they will see a positive financial impact on their business. In this uncertain environment, there is no employer that can afford to miss out on any financial opportunity. Because of this, SyncStream Solutions is partnering with Unemployment Solutions for You, LLC to bring our customers the industry-leading technology and service in the unemployment claims processing and management space.
Why is Unemployment Claim Management Important for Employers?
Employers who actively pursue an aggressive claims management program and reduce the charges that are assessed to their account can save a significant amount of money. Preventing unemployment claims being charged to your account directly affects your organization’s unemployment tax rate. This lower tax could mean significant savings in tax dollars.
Unemployment claims are based on wages that you and other employers have paid to your former employees during the past 18 months and caused the separation. Responding allows the State agency to adjudicate whether the claim should be paid, as liability is based on reason for separation. The state agency is simply attempting to determine who is at fault...no fault, no liability hence no payment.
Preventing and managing unemployment claim payments keeps more money in your UI account and helps lower your UI tax rate or keeps it from increasing. Bottom Line: It can significantly save you money! LEARN MORE BY WATCHING OUR WEBINAR ON DEMAND; UNDERSTANDING UNEMPLOYMENT CLAIMS IN THE TIME OF COVID
About US4U: Unemployment Claims Consultants
Us4U was founded by seasoned executives in 2008 that has over twenty-five (25) years of unemployment claims administration and unemployment tax consulting experience. The founders started the company with a basic idea to provide employers with the best solution to manage their unemployment claims. Originally the focus was in the Staffing industry, due to their high turnover rates, they experience a high volume of unemployment insurance claims. Us4U developed a solution to provide them with a streamlined and paperless environment to manage their Unemployment Claims. Currently Us4U has clients in different sectors such Staffing, School Board Associations, County Associations, Entertainment, Professional Employer Organizations (PEO), and Accounting Firms.
What makes Us4U stand apart from the competition is their unparalleled customer service and the fact that their executives truly care. They are proud to have a personal connection with every valued client and always do everything they can to meet them on their level. Their connection and vested interest in their business keeps us committed to providing clients with outstanding customer service alongside with their proven claim’s management record . Due to these high standards, commitment and vision, over time they began to build a niche in the market and now their software applications are also being used by other companies who wish to manage unemployment claims in-house.
Background of Unemployment Claims Processing
Federal law requires states to allow nonprofit organizations the option of financing unemployment insurance benefit costs either by paying contributions or by reimbursing the state fund only for claims paid out to former employees. Many nonprofits don’t realize they may be eligible for the reimbursement method and continue to pay into the state’s unemployment tax system unnecessarily. Tax financing employers pay a quarterly unemployment tax on the wages paid to their employees. Reimbursement financing employers do not pay a quarterly tax, although they must still file the quarterly tax and wage reports. Instead, they reimburse the department for 100% of the unemployment benefits charged to their account. Either option you choose, you may be paying more than needed to the state and these funds could be used elsewhere i.e., fundraising, supplies or even hiring more employees.
Tax financing employers pay a quarterly unemployment tax on the wages paid to their employees. Reimbursement financing employers do not pay a quarterly tax, although they must still file the quarterly tax and wage reports. Instead, they reimburse the department for 100% of the unemployment benefits charged to their account. Either option you choose, you may be paying more than needed to the state and these funds could be used elsewhere i.e., fundraising, supplies or even hiring more employees.
There have been a lot of federal UI programs available in the past, what are those programs?
- Emergency Unemployment Benefits (EUC)
- Disaster Unemployment Benefits (DUA)
- Federal Extended Benefits (EB)
My tax rate changes annually and I'm not sure why?
That is because every claim for which you have been proven at fault and liable, requires you to repay the state for the benefits paid to former employees.
Respond and monitor all your UI claims and review your benefit charge statements to be sure only qualified employees are receiving benefits.
Auditing your unemployment claim activity and benefit charges ensures that your tax rate is accurate. Nationally, there is a 10% error factor found in benefit charge statements.
I have an employee who voluntarily left work. Would I have to pay unemployment benefits?
Most states have "good cause" provisions that would allow for the employee to collect unemployment benefits. Some examples include; moving for a military spouse, severe illness, or personal danger.
My company has received a wage audit letter. Why?
Wage audits are done to help prevent unemployment fraud. If the company receives a notice asking for wage verification, it is likely the claimant has received both wages and benefits in the same quarter and the agency wants to verify that there is no concurrent receipt of both.