Whereas employers traditionally had to provide quarterly and yearly summaries for IRS reporting on their workforce, they now have to make sure they can get at their data for intricate breakdowns in monthly reports. Because payroll data is the body of information that sheds light on how employers will comply with these new and exacting reporting requirements, ACA changes to the Internal Revenue Code are transforming the work life of anyone who has anything to do with payroll processing.
In the past, most regulatory reporting for payroll activity centered on dollars – not hours.
But population of IRS Form 1095-C (the complicated new form known as the ACA counterpart to a W-2) hinges on tracking hours of service – not just paid hours of work. Click Here for more about Hours of Service.
This distinction is important because, to determine which employees are full-time &nda