Staying compliant is an important part of any business, no matter the size. Because your HR department deals with a variety of issues on a daily basis, staying compliant becomes a bigger responsibility for them in particular. Being aware of the most common compliance issues allows your HR department to prevent any problems if your company were to get audited. There are specific guidelines and regulations that your HR staff should follow in order to stay compliant such as the Fair Labor Standards Act (FLSA), the Family and Medical Leave Act, the Uniform Services Employment and Reemployment Rights Act, Federal Civil Rights, and so on.
The Human Resources department in an organization is one of the most important because of the many duties HR staff has. Not only do they have to look for the best talent, interview, hire, onboard, and so on, but most importantly, they are responsible for handling compliance. In other words, it is the HR department's responsibility to implement all legislative rules and regulations that govern the relationship between employers and employees. This means that they have to stay on top of all federal, state, provincial, and municipal laws to ensure that there are fairness and equality in the workplace. It is up to the HR staff to understand and be able to navigate all the laws to ensure their organization avoids any fines or penalties, and protects its reputation.
Year-end is here, and for the most part, it is the most wonderful time of the year. Holiday sales are up, employees are being festive and morale is high, holiday parties are happening left and right, and then there’s those of us who work in payroll. Year-end is one of the most stressful times of the year for those who do payroll for a business. There are 3 main areas that are involved in year-end:
For those of you who have not used ACA reporting with us previously, you will see that the 1095 is broken down by employee. If you’ve ever seen the actual 1095 Form in itself, it consists of 3 parts. When you look at part 2, all you need to look at are the codes for each month of the year. This is the tedious part of the system. We have to determine where the employee falls in this process. Were they offered coverage? Were they enrolled? Were they in a waiting period? There’s a whole lot of different variables that go into determining these codes.
Good afternoon everyone, thank you for joining us. Today we are going to discuss ACA reporting for 2016. I’m sure all of you are aware of reporting for the Affordable Care Act. If you are not, I suggest you reach out to us and we can give you all the gory details. However, at this point, I would like to go through an overview of the forms and give everyone a refresher. I want to make sure everyone is aware of the changes, as well as some of the updates to our platform that we’ve been releasing throughout the year.
First things first, compliance is everything in the back office. Whether you’re running the payroll, tracking employee hours, calculating who is eligible for ACA, or what have you, the key to success is making sure all your ducks are in a row. Issues with compliance can lead to hefty fines and working backward to correct what has been wronged. All-in-all, it should be avoided at all costs and with the help of a few tools, it can be for the most part. Even the most seasoned HR and payroll professionals can find themselves with a penalty due to error.
I don’t know about you, but us in the Payroll/HR software industry have been thinking a lot about the Affordable Care Act lately. Most employers with 50 or more full-time equivalent (FTE) employees will soon be frantically trying to file their Forms 1094 and 1095 on time, and will likely find themselves coming across question after question about what they’re doing. Even if they reported last year, they will quickly realize things have changed since then. Well never fear, Dominion Systems is here to make sure you’re prepared to tackle ACA reporting head on.
The first step you must take in regards to ACA is simply to determine whether or not you’re required to file. Typically, those companies who have 50 or more full-time equivalent (FTE) employees must file their 1094s and 1095s, as they are considered an applicable large employer (ALE). Whether or not you are self-funded or fully insured will alter the filing procedure somewhat. The flowchart below will assist you in deciding if you are required to file.