ACA Service Agreements & Questionnaires Due Dec. 16
The Affordable Care Act reporting continues for 2016! The ACA employer mandate requires employers with 50 or more full-time employees to report health coverage information to the IRS. This also applies to employers that are self-insured, even if they have fewer than 50 employees.
Part of Precision Payroll’s ACA reporting process is to complete an ACA Agreement and an ACA Questionnaire. These help provide the information that is required to complete the reporting on the client’s behalf.
Clients who would like Precision Payroll to assist with filing IRS forms relating to the Affordable Care Act (ACA) must submit their questionnaire and service agreement to Precision by December 16
The IRS has extended its 2017 deadline from January 31, 2017
, to March 2, 2017
, for employers and insurance providers to furnish individual 1095 statements to their full-time employees.
The IRS has not extended the due date for filing Forms 1094 and 1095 with the IRS. The due date remains February 28, 2017
, (if filing by mail) or March 31, 2017
(if filing electronically).
Please contact Tom Sodeika (firstname.lastname@example.org
) or Kiran Waheed (email@example.com
) with any questions or concerns regarding the deadlines.
NOTE: Stay tuned for any upcoming changes to the ACA. We will guide you through them.
What's New in HR?!
Not only must employees receive their W-2 by January 31, 2017, but all company reports must also be sent to the IRS by this date. Previously the reports were not due until March 31 each year. This further tightens the January payroll data accumulation window. Please provide your Payroll Specialist or the Tax Department with your unemployment tax rate changes, third party sick pay and other needed information asap.
The proposed increase in the minimum salary was indefinitely stopped by an injunction filed by a federal judge in Texas. The minimum salary for exempt salaried employees was scheduled to increase to $47,476 on December 1, 2016, but was stopped at the last minute. It is unclear at this time what, if any, change will eventually occur. The planned increase was of great concern to many employers, especially smaller employers and non-profit organizations.
New I-9 Form
The U.S. Citizenship and Immigration Service has just released an updated Immigration 9 (I-9) form. A copy of the new form can be found on the Precision Payroll webpage here
. The old form can be used for new hires until January 20, 2017. The new form must be used for new hires as of January 21, 2017. The I-9 form must be signed by the company representative within 3 days of the employee's start date. An electronic signature is not acceptable.
READ the rest of the story (FSA, ACA, OSHA) on our website >>
Top 10 Reasons to Update (or Create) a Handbook
READ more reasons on our website >>
- Updates the employer on new law changes and other new compliance issues and provides the employer with confidence about their HR legal compliance.
- Provides a very professional and organized reference tool for managers and current employees.
- Verifies that the company does not have a contract with the employee, and that their employment is at-will.
- Allows new hires to be trained on the rules critical to their jobs and the benefits they will receive.