Satisfying the Affordable Care Act (ACA) employer mandate and meeting the reporting requirements and filing deadline is always a complicated task for applicable large employers (ALEs). Now, 2021 reporting will be especially burdensome because the pressure is higher for every file form to be accurate. This tax year, the IRS has eliminated good faith relief, putting employers entirely on the hook for any errors in their Form 1094-C or 1095-C. To ease the burden of meeting ACA reporting deadlines this year, employers should consider electronically filing their ACA reporting forms. MP’s HR and payroll compliance experts share five reasons reporting entities should complete their ACA reporting online this calendar year. (Note employers that will have more than 250 forms to be filed with the IRS must file electronically. Employers with more than 250 full time equivalent employees cannot file paper forms with the IRS.) Read the article to:
• Find out how electronic filing helps employers clean up their own payroll data
• Discover why electronic filing assists employers in dodging steep penalties
• Learn why (and how long) electronic filing pushes reporting deadlines for employers
• Uncover how electronic filing helps employers protect themselves from IRS errors and erroneous penalties or penalty assessments
ACA Reporting
Reach out to our MP team if you need assistance handling these topics.
On December 9, 2021, the IRS published the final Affordable Care Act (ACA) reporting instructions for the 2021 tax year (and the 2022 calendar year). The instructions for Applicable Large Employers (ALEs) include the final Form 1094-C and Form 1095-C, new codes related to individual coverage health reimbursement arrangements, details on every filing deadline, updates on Good Faith relief, and information about electronically filing forms with the IRS. To satisfy the ACA employer mandate and avoid penalties, all Applicable Large Employers (ALEs) should know these six considerations in 2022. Read the article to:
• Learn the ACA reporting deadlines for this calendar year
• Find out detailed information about the 2021 ACA reporting forms
• Outline best practices for filing forms with the IRS
• Discover new codes for ACA reporting
ACA reporting will still be required this year, even amidst the chaos the pandemic created for HR and payroll departments! The ACA reporting requirements are all still in place—with a few changes. MP’s HR services team shares what you need to know for your 2020 ACA filing. Read the article to:
Find out the latest updates on ACA filing, including the case to dismantle the ACA partially or completely
Learn what to do if you get a 226J letter
Get the latest codes you’ll need for your 2020 ACA reporting
Read the article.
Subject employers should be tackling ACA reporting for 2020 right now. While the ACA reporting requirements have stayed the same, there are some new codes that organizations may need to use if they are offering an individual coverage HRA (ICHRA). Below, MP’s HR services team provides a refresher on the important evergreen codes for ACA filing and a list of the new ones. Read the article to:
Learn about the new codes you may need for your ACA reporting
Get a comprehensive review of the most commonly used codes
Read the article.
Your organization is busy dealing with the pandemic, ACA reporting, tax filing, and so much else. Do you really need to be concerned about cyber security problems and solutions? Read the article to:
Learn about the startling growth in cyber-crime and why it will continue rise in 2021
Find out what kinds of cyber-attacks will be most common this year
Determine why your company needs to think about a strategic approach for cyber security products and services
