ACA Reporting Requirements Still in Effect for 2018At The Close of 2017, The ACA Stands& The IRS Supports Existing Systems to Fully Enforce ItEfforts of Congress to repeal the ACA don’t yet affect the IRS’ stance will support the law until the repeal is resolved. The result is that all affected employers must file 1095-C reporting forms and provide copies to employees by the IRS deadlines, or face the consequences.Employer Deadlines Schedule Employers Must Meet For Tax-filing:- February 28, 2018 — paper-filing deadline- NEW DEADLINE! March 2, 2018 (previously January 31) — mail employee copies- April 2, 2018 — e-filing deadlineWho Should Report Under The ACA?The ACA reporting requirements have the biggest impact on applicable large employers (ALEs) — businesses with 50 or more full-time or full-time-equivalent employees in the preceding year.To determine if your business is an ALE for tax-filing purposes, you’ll need to distinguish between full-time (a full-time employee averages at least 30 hours of service per week during the calendar month, or 130 hours in a calendar month or a full-time equivalent employee (a full-time equivalent employee represents a combination of part-time employees that, together, count as a full-time employee. See Attached Tax Update Worksheet for details.An ALE may be a single entity or may consist of a group of related entities (such as parent and subsidiary, or other affiliated entities). If the combined number of full-time and full-time equivalent employees for the group is large enough to meet the definition of an ALE, then each employer in the group (called an ALE member) is part of an ALE — and subject to the ACA’s Employer Shared Responsibility provision, even if it wouldn’t be an ALE separately.Smaller, Self-Insured Employers Must Also ReportAlthough they’re not classified as ALEs, smaller, self-insured companies are also responsible for ACA reporting. A self-insured company generally contracts with an insurer to administer its plan, but pays medical claims out of its own company funds.ALE Employers must report the name, address and Social Security number (or date of birth) of all covered individuals, including spouses, dependents and other covered individuals, on the 1095-B – along with completing the corresponding transmittal form, 1094-B.Businesses that are not ALEs and not self-insured have no reporting obligations under the ACA.Waiting for the dust to settle IS NOT WISE! Failure to meet the deadlines for furnishing and filing ACA forms is steep. You could be penalized as much as $260 a return for late filings, with intentional disregard costing up to $530 a return.asure software offers Human Capital Management solutions that make it easy for employers to manage employees and keep up with state and federal regulations. Our solutions help maintain the service level and familiarity of a small, family-owned business. Let us handle your human capital management so you can focus on running your business.If you have any questions about these updates, please contact us: 800-442-4988 or email: info@asuresoftware.comSource: Federal Update

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