PBMares Accounting Blog

Affordable Care Update

Posted by Nick Perrine on Oct 23, 2015 9:28:00 AM

Information Reporting for Applicable Large Employers

Under the Affordable Care Act, an applicable large employer (ALE), those with 50 or more full-time employees including full-time equivalent employees, are required to file new information returns with the Internal Revenue Service (IRS) and provide statements to their full-time employees about offers of health insurance coverage. These new information returns and employee statements will be filed for the first time in early 2016 reporting coverage information for the 2015 calendar year. These reporting requirements are very complicated and will draw from information tracked in the payroll and employee benefits records. Most third-party payroll providers are positioned to prepare and file these new reporting obligations, though additional information will need to be made available to them.

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Topics: Affordable Care Act (ACA)

Large Employers: Time to Start Planning for ACA Information Reporting

Posted by Kevin F. Reilly, J.D., CPA, CGMA on Jul 2, 2015 10:00:00 AM

With the U.S. Supreme Court’s June 25 decision upholding the Affordable Care Act (ACA) yet again, employers subject to the act’s information reporting provision can no longer afford to put off planning in the hope that the requirements might go away.

Beginning in 2016, “large” employers as defined by the act (generally employers with 50 or more full-time employees or the equivalent) must file Forms 1094 and 1095 to provide information to the IRS and plan participants about health coverage provided in the previous year (2015).

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Topics: Tax Bites, Tax Updates, Affordable Care Act (ACA)

Join Us for Our June 24th Webinar: "Tackling the Key Issues Facing Not-for-Profit Organizations"

Posted by Susan Miller on May 28, 2015 3:00:00 PM

 

Is your not-for-profit prepared for what's ahead in 2015 and 2016?
What are the Affordable Care Act (ACA) requirements for NFPs?

If you want answers to these questions, we invite you to attend our upcoming webinar, Tackling the Key Issues Facing Not-for-Profit Organizations.  Co-sponsored by PBMares and ADP, the event takes place on June 24 from 10:00 – 11:30 AM and includes a Q&A session. Webinar speakers and topics include: 

  • Bo Garner and Ed Yoder of PBMares will present information about FASB’s proposed financial statement presentation changes.
  • David Messenger of ADP will discuss the ACA's new NFP-specific reporting requirements and due dates. 
  • Gaye Boyette of M&T Bank will present options for NFPs to improve cash flow in an era of decreased fundraising.

 

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Topics: Not-for-Profits, PBMares Events, Affordable Care Act (ACA)