Over the past few years, our ACA Compliance team has received many questions around ACA compliance and most of the time, we are able to answer them quickly based on clear guidance given by the IRS, legislative information and/or court rulings. However, there have been questions that are harder to answer, for example: “How [...]
How Companies Are Managing & Reducing Healthcare Costs Yes, the price of health insurance is still rising. But that’s no surprise. Companies have nervously anticipated that news annually for a long time. The good news—or as good as it gets—is that the rise in employer healthcare costs per employee has plateaued over the last [...]
Payroll requires a team of people that aren’t afraid to work hard and fast. There are always interruptions, and mistakes occasionally happen. Even with a powerful ERP system like Microsoft Dynamics GP, what’s in the box just isn’t enough, making some tasks just plain time-consuming. Let’s face it, the pace of business isn’t slowing down. [...]
Tight budgets, retention issues, increasing compliance requirements, and a very tight labor market are among many factors putting additional burdens and pressures on payroll professionals who may already be feeling maxed out. This unnecessarily puts your payroll department into a realm where they are truly “Payroll and Afraid.” You’ve heard the term “living paycheck [...]
Is it getting difficult to keep track of your employees this summer? Are your front doors constantly revolving as employees come and go? Have you noticed your payroll team is a little on edge lately? We are in the middle of prime vacation season and keeping track of leave time using manual means is causing [...]
Running a successful business isn’t all about profits. You also have to manage risk. While you may keep a close eye on the more obvious processes, like manufacturing processes for product recalls, for example, some risks are less apparent. Growth often means hiring new employees and, if you aren’t keeping an eye on your headcount, [...]
Perhaps you are an employer who has received a 226-J letter from the IRS. For those who are unaware, the 226-J letter is a notification of a potential ESRP assessment from the IRS due to possible non-compliance. If you have in fact received this letter; hopefully you have taken the proper steps to timely [...]
As many of you know, the IRS has started sending out Letter 226-J notices. Many employers are now trying to figure out what triggered the IRS to send the notice. Many of them are also trying to figure out if there was anything they could have done differently to avoid receipt of Letter 226-J. Here [...]
It’s July and I can confidently say that Central Illinois has been feeling the summer temperatures and high humidity. We got a break in the weather this weekend, a nice high-pressure system allowing for yard work and my personal favorite, relaxing in the pool. As I sat there listening to the children (and the adults [...]
When you find a copy of IRS Letter 226J in the mail, it can be a frustrating feeling. Letter 226J is a penalty assessment notice that essentially notifies you that you failed to comply with the employer mandate of the Affordable Care Act (ACA). Your first thought might be: “What? No way.” You may [...]