Accord Systems launches Forms Express to lessen the burden of ACA reporting
In three years of serving clients of all sizes, differing levels of across many industries, we’ve developed a deep understanding of the requirements the ACA has placed on employers, as well as the impact on time and resources compliance has on HR, benefits and payroll.
Four Items to Consider in Light of the Letter 226J
Over the past several months some employers have received a Letter 226J from the IRS proposing a penalty under section 4980H of the Internal Revenue Code. The letters provided by the IRS to employers have provided many lessons for employers moving forward either to avoid these penalties entirely or to be able to effectively respond to such a letter. The following are four items an employer should consider to place itself in an optimal position in future years.
Deadline for Furnishing Form 1095-C Statements to Individuals Extended along with Good Faith Efforts Standard
On December 22, 2017 the IRS provided every employer an automatic extension from the deadline to furnish the Form 1095-C statements to individuals. Additionally, the IRS extended the good faith efforts standard to the 2017 Forms. This is a surprise that should be helpful to employers but also will make the IRS less forgiving of late filers.
Final Pieces of Employer Mandate Assessment Released – IRS Issues Sample Forms 14764 and 14765
The IRS recently released sample versions of the Forms 14764 and 14765. While the IRS previously discussed these Forms in the sample Letter 226J, additional details were provided with the release of the specific Forms. This article describes the new details disclosed by the release of the Forms.