Navigating ACA Coverage and Reporting Requirements: Avoiding IRS Audits and Penalties, Best Practices

Strafford

Classifying Employees, Determining Affordability, Properly Reporting Offer and Coverage Information, and More

This CLE course will guide employee benefits counsel on effective methods to comply with Section 4980H of the Affordable Care Act (ACA). The panel will discuss the challenges in classifying employees correctly under the monthly or look-back measurement methods, determining affordability, properly reporting offer and coverage information, and effective planning and compliance techniques to avoid IRS audits and penalties.

Description

The ACA's reporting provisions require employers to file informational returns with the IRS and annual statements to employees. Even though the employer mandate only applies to "applicable large employers," large and small employers have reporting requirements.

To satisfy the coverage and reporting requirements of the ACA, employers must overcome a variety of challenges, such as employee classification issues, reporting requirements for employers who are a part of a "controlled group," and completing Forms 1094-B, 1095-B, 1094-C, and 1095-C. Businesses with filing requirements must meet these compliance requirements or face stiff penalties.

Listen as our authoritative panel of ACA experts discusses planning techniques to ensure employer compliance with the ACA's coverage and reporting requirements. The panel will offer guidelines for both applicable large employers and small employers who are not subject to the employer mandate but may still have reporting obligations, as well as outline the steps employers should take to avoid IRS audits and penalties.

Outline

1. IRC 6055 and 6056 reporting requirements
2. Employee classification issues
3. Reporting requirements
   1. Forms to be furnished to employees
   2. Forms to be reported to the IRS

4. Best practices and avoiding IRS audits and penalties

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