IRS

15 08, 2017

IRS will not waive penalties for employer mandate under ACA

August 15th, 2017|ACA Tracking, Reporting Compliance|0 Comments

In a series of information letters, the IRS has clearly indicated that it won’t waive employer mandate penalties under the Affordable Care Act. For example, in a letter from the IRS to House Representative Bill Huizenga dated April 14, 2017 related to a question from an applicable large employer, it was made clear that the [...]

8 06, 2017

I thought the ACA was getting repealed … what happened?

June 8th, 2017|ACA Tracking, Reporting Compliance|0 Comments

Just a couple months ago, you could not watch any major news show without at least some of the show being dedicated to the repeal and replacement efforts of the Affordable Care Act. However, since the passage of the American Healthcare Act (AHCA) by the House of Representatives in early May, the topic of healthcare [...]

21 04, 2017

ACA Penalties Are Coming

April 21st, 2017|ACA Tracking, Reporting Compliance|0 Comments

The political climate what it is, many employers have been holding out hope for penalty relief for not offering coverage, not offering affordable coverage and for not filing the necessary ACA forms with the IRS. The most recent legislation that was pulled for consideration in the House of Representatives would have provided relief to employers [...]

24 03, 2017

Are Employer Reporting Requirements Going Away With Repeal & Replace?

March 24th, 2017|ACA Tracking, Reporting Compliance|0 Comments

Many employers are hanging their hat on the employer reporting requirements (i.e. Form 1095-C) going away under the changes proposed by the Trump Administration. The current legislative proposal in the American Healthcare Act (AHCA) repeals the employer mandate to offer coverage. So under this proposal, the employer doesn't need to report information to the IRS [...]

27 02, 2017

Does the good-faith effort reprieve from penalties apply to forms for 2016 filed in 2017?

February 27th, 2017|ACA Tracking, Reporting Compliance|0 Comments

As employers continue to work through the challenges of complying with the Affordable Care Act, professionals in the industry are reticent to accept anything less than perfection when dealing with IRS regulations. Why? To alleviate any concern about potential penalties due to non-compliance down the road. In Notice 2016-70 dated December 5, 2016, the IRS [...]

9 06, 2016

Employer Compliance with ACA Starts with Counting

June 9th, 2016|ACA Tracking, Reporting Compliance|0 Comments

Employer compliance with the Affordable Care Act starts with counting. Counting an employee’s hours per week. Counting an employee’s hours per month. Counting an employee’s hours when they may not even be on the job. Counting an employee’s hours when you don’t compensate them according to time.Miss a step in any of these counts and [...]

13 07, 2015

Do It Right: Modifying the Taxes for an Employee Check when Receiving Bonus or Commission Wages on a Regular Pay Check

July 13th, 2015|Microsoft Dynamics GP, Payroll and HR Software|0 Comments

I recently was asked the question, “How do I modify the taxes for an employee check when they receive bonus or commission wages on a check with regular pay so that they are not hit with a large tax withholding on the check?”The answer is not necessarily straight forward.For background, Microsoft Dynamics® GP will annualize [...]

28 04, 2015

Importance of Internal Controls Within the Payroll Department

April 28th, 2015|Microsoft Dynamics GP, Payroll and HR Software|0 Comments

The largest expense for most employers are the wages and benefits paid to its employees. As such, there are many ways in which employers can expose themselves to risk. Either intentionally or through a lack of awareness, staff members within the payroll department often times cost their employers large amounts of money. Effective internal controls [...]