Activity to calculate benefits eligibility and required coverage offerings began January 1, 2016
for 2017 tax reporting. The following steps are vital to begin the process of ACA compliance:
Step 1: Determine the appropriate measurement/stability/administrative periods, business rules per job class and unique client characteristics that impact the reporting outcome. Seeking expert advice on best options and desirable outcomes is strongly recommended.
Step 2: Establish pay hours upload to conform to the desired employer measurement period(s), business rules and unique client characteristics. Validate the information at least quarterly during 2015.
Review checklist for “audit preparedness.”
Step 3: Prepare and review end of year IRS forms before 2015 calendar year expires. Review of actual 2015 client activity before the year ends is strongly recommended.
Has the information gathered and tracked yielded the outcome selected in Step 1?
Tracking Employee Eligibility in Accordance with ACA Hourly Guidelines
Generating IRS forms to comply with the 6055 and 6056 mandates
Mandatory 2015 filing for all companies with 50 or more employees. We simplify these mandates by referring to them as “The Four Corners of ACA Filing.”