Are you familiar with the new IRS Employer Reporting forms for 2015 & 2016?

More importantly, is your CPA (IRS Sections 6056/6055), payroll provider and/or benefit broker up-to-date and informed on these requirements?

Feel free to give us a call and we can walk you through the details. Here’s the Reader’s Digest version:

  • If less than 50 employees & offering a “fully insured” group plan, then your carrier will issue the required 1095 form to your employees and there’s very little you’ll need to do.
  • 50 or more full-time equivalent employees will need to file an annual information return reporting. In addition, Applicable Large Employers (ALE) are subject to the Employer Shared Responsibility provisions.
  • Regardless of size, all employers that provide self-insured health coverage to their employees must file an annual return reporting certain information for each employee they cover.

Here’s an article from the Wall Street Journal & Anthem on the matter. The good news is there’s plenty of time and the CPA community will now have time to get updated with the 2014 tax season mostly in the books.

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