Posted by: danielrashke | January 13, 2016

New Year, New Challenges

The New Year is only a couple of weeks old and already the benefits world is shifting and changing. For example, on December 28, 2015 the Internal Revenue Service (IRS) issued Notice 2016-04 extending two deadlines: distribution of IRS Form 1095 to employees, and filing of IRS Form 1094 to the IRS (for 2015 Affordable Care Act/ACA) reporting. This bombshell had the industry scrambling during the last week of 2015.

LC_January_2016_Page_01Countless employers and benefits administrators were already confused about the complex new rules and requirements mandated by ACA. In fact, they may see this changed deadline not as a gift, but more as yet another challenge. Meanwhile, because of the looming original deadline, many administrators had already stopped taking on new customers. While I understand their hesitancy to extend themselves or to take on customers they aren’t sure they can serve, this closed door left many employers with few options… Unlike those administrators who closed access to newcomers, the door remains wide open at TASC, as always. We continue to accept new ACA Employer Reporting Clients for 2015, and will do so until January 31, 2016.

TASC is ready to help you attempt to meet the requirement on time. To my way of thinking, it is better to have someone in your corner than to try to go it alone. Granted, even TASC—with many years of experience in the benefits industry—continues to learn about this new requirement. But this is what we DO, and we are learning quickly. And because we’re handling a huge volume of reports, our expertise in this area is growing exponentially!

Thanks to our robust understanding of this requirement, we were invited to author an article on the topic. Naturally we were pleased to therefore break down the new ACA Employer Reporting requirements for the Legal and Compliance Excellence magazine (January 2016 issue). I think you’ll agree that this article is a great place to refresh your understanding of this requirement. And I highly recommend that you share it with other business owners.  They’ll thank you! (Click on the magazine’s cover image at right to read this informative piece.)

Of course, if you have questions after reading the article, give us a call. We will do everything we can to help.


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