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Payroll Reporting Under the Affordable Care Act (ACA) (HRM663K)

Presented by: Patrick Haggerty
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Pre Recorded Webinar
100 minutes
  •  Thu, June 9, 2016
Event Description
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2.0 Credits
1.5 credits

Understand the Requirements for Payroll Reporting under the Affordable Care Act

The Affordable Care Act (ACA) provided for individual and employer mandates to obtain or provide minimum essential health coverage. This is also known as the "shared responsibility" provisions. The ACA has also provided for shared responsibility payments (penalties) for failure of individuals to obtain coverage or for failure of certain employers to offer or provide affordable coverage. As a result, information returns regarding coverage of individuals must be furnished to them so they can determine premium subsidies or shared responsibility payments. The ACA also requires that certain employers report information concerning the cost of health care coverage provided to employees on Form W-2.

Employers may be subject to shared responsibility payments for failure to provide affordable minimum essential coverage to employees or for failure to report information correctly. Smaller employers may be eligible for tax credits or exemption from the filing requirements.  The roll out has been rocky with a number of temporary extensions of filing and reporting requirements, imposition of penalty provisions and even extension of the filing deadlines for 2015 returns.  2016 should be a year of relative stability and because of that, an understanding of the rules and the consequences of noncompliance are essential for businesses, especially in reporting and in determining whether to offer coverage and the types of coverage to offer to employees.

Join this session by expert speaker Patrick A. Haggerty to understand the process of payroll reporting under Affordable Care Act (ACA). Understand all about the forms and know how to determine if your employer is an applicable large employer or a small employer. Know about special reporting requirements, beware of penalties and understand the role of insurance providers in the process.

Session Highlights:

  • Understand the purpose of each form and who is responsible for filing it
  • Know how to determine if an employer is an applicable large employer (ALE)
  • Know when small employers are required to file forms and which forms to use
  • Understand the special reporting requirements that apply to employers with self-insured plans
  • Know what information is required and how to report it
  • Be aware of the penalties for noncompliance
  • Understand how insurance providers fit into the process
  • Be aware of the tax credits available and how to take advantage of them
  • Know which costs to report on Form W-2
  • Distinguish between small employers and applicable large employers (ALEs)
  • The special reporting requirements for employers with self-insured plans
  • The reporting requirements for each type of employer and who is responsible for the reporting
  • A view of each of the forms and instructions for preparing the forms
  • Review of Form W2 reporting requirements related to the cost or value of employer sponsored healthcare plans
  • Information reported to employees and information provided to the IRS – what it means and how it is used
  • What to do to avoid or mitigate noncompliance penalties
  • Special provisions applicable to small employers

Who Should Attend

  • HR managers and staff
  • Payroll managers and staff
  • Third party payroll service providers
  • Benefits administrators and consultants
  • Insurance providers
  • Small employers
  • Tax practitioners
  • Companies that provide employees with health coverage or are subject to
  • the employer mandate
  • Any employer that is an applicable large employer (ALE)
  • Any small employer who may be eligible for tax credits under the ACA
About Our Speaker(s)

Patrick Haggerty | Payroll Tax Issues SpeakerPatrick Haggerty
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at a... More info

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    Event Title: Payroll Reporting Under the Affordable Care Act (ACA)
    Presenter(s): Patrick Haggerty

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