Wage and Hour Law Firm Helps Explain IRS Reporting Guidelines
The IRS reporting guidelines for Affordable Care Act compliance affect every company with more than 50 full time employees. In order to help simplify the process, Seyfarth Shaw has published a new report to help you decipher IRS reporting guidelines.
The Report Includes Information On:
- 1094-C and 1095-C Forms:
These forms are filed by employers to verify their compliance with the employer “shared responsibility” mandate and adequate coverage for employers and to provide a summary to the IRS of aggregate employer-level data. These forms must be filed with the IRS by March 31, 2016 (February 29, 2016 if they are filed by paper).
- Frequently Asked Questions:
The report answers questions about the 1094-C and 1096-C forms and also clears up any confusion about Section 6056, which imposes a reporting requirement for applicable large employers (ALE).
- Social Security Solicitation Steps:
You'll learn the necessary steps to take when obtaining social security numbers of employees and the procedure when this information can’t be retrieved.
- Multiemployer Filings and More
Also, check out EPAY’s Affordable Care Act Toolkit as a solution for your company to stay in compliance with the new IRS reporting guidelines. We take the hassle out of precisely tracking employee ‘hours of service,’ which is the key to ensuring your compliance.
Want more? Download the eBook, How to Leverage Time and Attendance To Systems to Meet ACA Reporting Requirements, to learn more about monthly record keeping requirements, best practices for ensuring compliance, and how technology can help alleviate the burden of gathering information for the forms.