On August 6, 2015, the Internal Revenue Service (IRS) issued draft 2015 Forms and Instructions for the annual reporting that will be required in 2016 by employers subject to the Affordable Care Act’s shared responsibility requirements, as well as by plans providing minimum essential coverage (MEC).
2015 Draft Instructions for 6055 and 6056 Reporting Include Filing Extensionsntoscano50
The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056. Under these new reporting rules, certain employers must provide information to the IRS about the health plan coverage they offer (or do not offer) or provide to their employees. Reporting is first required in 2016, related to coverage offered or provided in 2015.
ACA Compliance Bulletin - Final Form for ACA ReportingNicholas Toscano
The Internal Revenue Service (IRS) has released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.
- Forms 1094-B and 1095-B are used by entities reporting
under Section 6055, including self-insured plan sponsors
that are not applicable large employers (ALEs). Final
2016 versions of these forms and final instructions
were released on Sept. 26, 2016.
- Forms 1094-C and 1095-C are used by ALEs to report
under Section 6056, as well as for combined Section
6055 and 6056 reporting by ALEs who sponsor selfinsured
plans. Final 2016 versions of these forms and
final instructions were released on Sept. 30, 2016.
Minor changes were made to the forms, including the addition
of two new “Offer of Coverage” codes for use on Form 1095-C.
The instructions also included some clarifications.
Staying Up to Date on Required Health Care Reportingbenefitexpress
This presentation reviews:
• When temporary employees become your employees
• The factors the government uses to determine employment status
• The steps you can take to avoid these employees becoming your employees
• Consequences under Health Care Reform if it is determined that they are your employees
Health Reform Bulletin: Finalized ACA Reporting Forms & Employer Appeals to M...CBIZ, Inc.
This bulletin details the release of a number of forms and compliance tools to assist employers subject to the Affordable Care Act’s (ACA) Shared Responsibility Requirements to comply with the law. Of particular note, the finalized version of the forms used to satisfy the IRC Section 6056 and 6055 reporting requirements, together with the related instructions, have been issued. While the forms released last week were for the 2014 calendar year reporting (the voluntary reporting year for all employers), it is presumed the mandatory forms to be released for 2015 reporting later this year will be quite similar to those just issued.
Health Reform Bulletin Oct, 2015 - Amendments to the small employer definitio...CBIZ, Inc.
The latest Health Reform Bulletin is here! This bulletin is chock full of information from a new law that amends the definition of small employer, finalized ACA reporting forms 1094 and 105 and adjusted PCORI fees and much more. Check out some more in-depth information above.
Provider Reporting of Health Coverage -- Code Section 6055ntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055. Under these new reporting rules, all entities that provide minimum essential coverage (MEC) must provide information to the Internal Revenue Service (IRS) about the health plan coverage they provide. Related statements must also be provided to individuals. Reporting is first required in early 2016 for calendar year 2015.
2015 Draft Instructions for 6055 and 6056 Reporting Include Filing Extensionsntoscano50
The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056. Under these new reporting rules, certain employers must provide information to the IRS about the health plan coverage they offer (or do not offer) or provide to their employees. Reporting is first required in 2016, related to coverage offered or provided in 2015.
ACA Compliance Bulletin - Final Form for ACA ReportingNicholas Toscano
The Internal Revenue Service (IRS) has released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.
- Forms 1094-B and 1095-B are used by entities reporting
under Section 6055, including self-insured plan sponsors
that are not applicable large employers (ALEs). Final
2016 versions of these forms and final instructions
were released on Sept. 26, 2016.
- Forms 1094-C and 1095-C are used by ALEs to report
under Section 6056, as well as for combined Section
6055 and 6056 reporting by ALEs who sponsor selfinsured
plans. Final 2016 versions of these forms and
final instructions were released on Sept. 30, 2016.
Minor changes were made to the forms, including the addition
of two new “Offer of Coverage” codes for use on Form 1095-C.
The instructions also included some clarifications.
Staying Up to Date on Required Health Care Reportingbenefitexpress
This presentation reviews:
• When temporary employees become your employees
• The factors the government uses to determine employment status
• The steps you can take to avoid these employees becoming your employees
• Consequences under Health Care Reform if it is determined that they are your employees
Health Reform Bulletin: Finalized ACA Reporting Forms & Employer Appeals to M...CBIZ, Inc.
This bulletin details the release of a number of forms and compliance tools to assist employers subject to the Affordable Care Act’s (ACA) Shared Responsibility Requirements to comply with the law. Of particular note, the finalized version of the forms used to satisfy the IRC Section 6056 and 6055 reporting requirements, together with the related instructions, have been issued. While the forms released last week were for the 2014 calendar year reporting (the voluntary reporting year for all employers), it is presumed the mandatory forms to be released for 2015 reporting later this year will be quite similar to those just issued.
Health Reform Bulletin Oct, 2015 - Amendments to the small employer definitio...CBIZ, Inc.
The latest Health Reform Bulletin is here! This bulletin is chock full of information from a new law that amends the definition of small employer, finalized ACA reporting forms 1094 and 105 and adjusted PCORI fees and much more. Check out some more in-depth information above.
Provider Reporting of Health Coverage -- Code Section 6055ntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055. Under these new reporting rules, all entities that provide minimum essential coverage (MEC) must provide information to the Internal Revenue Service (IRS) about the health plan coverage they provide. Related statements must also be provided to individuals. Reporting is first required in early 2016 for calendar year 2015.
TaxAlerts cover significant
tax news, developments and
changes in legislation that
affect Indian businesses. They
act as technical summaries . For more information,
please contact EY India.
Overwhelmed by ever-changing Affordable Care Act regulations? You aren’t alone. The new wave of requirements are here, and that means new employer shared responsibility reporting rules for your business in 2015...or big fines if you don’t comply.
Check out our ACA presentation with health care reform and employee benefits experts from Arthur J. Gallagher & Co. and PeopleMatter to:
- Find out what the mandatory Section 6055/6056 reporting is, who it applies to in 2015 and why it’s so important
- Learn how to report minimum essential coverage, offers of coverage, full-time employee status and other essential elements of these forms to ensure compliance
- Get actionable tips on how to collect employee information, stay ahead of deadlines, save time and ease administrative burdens
- See hiring/scheduling tools designed to help you plan strategically and avoid reporting fines that can reach $1.5M
Health Reform Bulletin 141 | 2018 Forms and Instructions for 1094/1095 Series...CBIZ, Inc.
• 2018 Forms and Instructions for 1094/1095 Series ACA Reporting Forms
o Health Insurance Coverage Reporting by Insurers and Sponsors of Self-funded Plans (IRC Section 6055)
Instructions for 2018 Forms 1094-B and 1095-B
Form 1094-B, Transmittal of Health Coverage Information Returns
Form 1095-B, Health Coverage
o Employer Health Insurance Reporting Requirement (IRC Section 6056)
Instructions for 2018 Forms 1094-C and 1095-C
Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
• Adjusted Patient Centered Outcome Research (PCORI) fee
ACA Compliance Bulletin - IRS Issues Letter 5699 to Noncompliant EmployersKelley M. Bendele
An ALE that fails to comply with the Section 6056 reporting requirements may be subject to penalties equal to $260 per violation for failure to file correct information returns by required deadlines.
From 28th March, 2020, Government allowed non-refundable advance out of PF account balance to certain employees helping them fight the battle against Corona Virus. If Small and medium businesses educate and motivate their employees to avail this facility, their own financial burden will also be reduced.
Here is my power point presentation about the statutory provisions of scheme, how much can be withdrawn, procedure to claim and other issues.
The Income Tax Department has announced forms for filing I-T returns for the 2020-21 fiscal year, which is a significant development in the field of taxation. In spite of the ongoing COVID pandemic and to make it easier for taxpayers, no major changes to the ITR Forms have been made in relation to last year's ITR Forms. Only the bare minimum reforms were introduced as a result of revisions to the Income-tax Act of 1961.
Form 990-EZ is filed by the organizations whose gross receipts are less than $200,000 and total assets at the end of the year are less than $500,000. Steps to complete Form 990-EZ are explained in detail .
Amazing how the BIR makes it more difficult for taxpayers to file their Income Tax Return! Seriously, does anyone still use Internet Explorer? Good grief!
Issues in e filing of tax audit reports for ay 2014-15Ameet Patel
The format of the tax audit report that an Indian tax auditor issues has undergone considerable changes in July, 2014. The e-filing of the same also throws up multiple challenges. This presentation deals with some of the important issues that an auditor is likely to face while electronically filing the tax audit report.
Compilation of CBDT Notifications & Circulars issued in July 2020ManishBhatnagar21
Below is the list of Notifications & Circulars issued by CBDT in the month of July 2020 and the same has been compiled so that you won't miss any Notifications & Circulars updates from Income Tax Department:
Temporary Policy Changes to Form I-9 and E-Verify due to COVID-19 - Remote an...Smart ERP Solutions, Inc.
Form I-9/E-Verify updates during COVID-19 for remote and in-office hires
Description
As employers slowly move back to hiring on-site workers and others remaining remote, the differences in policies can be confusing regarding Form I-9 and E-Verify when bringing on new hires. Onboarding remote employees is already a challenge for employers - add the global pandemic with a mix of in-office and remote hires, and things can get frustrating, confusing, and even difficult for employers to comply with rules and regulations.
In this session, we heard directly from the Department of Homeland Security about all the updates for Form I-9 and E-Verify during the COVID period and the differences in policies between remote and on-premise new hires.
In response to the coronavirus (COVID-19) National Emergency Declaration, the United States Department of Homeland Security (DHS) announced temporary modifications to the Form I-9 Employment Eligibility Verification process, E-Verify, and enforcement actions.
Reference my post dated April 30th, 2015 for more details on this report and it's meaning in relation to the #CodeGate scandal @ https://procureinsights.wordpress.com/2015/04/30/when-it-comes-to-the-nigp-just-follow-the-money-mr-hansen-follow-the-money-by-jon-hansen/
The latest newsletter of The Advantage talks about how CWA is a continuous effort and spotlights the women that have been leading the charge for the past nine years. With features from Sabrina Rudolph, VP and Controller of Maxwell Technologies, and information of CBIZ women serving as mentors in 16 different cities; this is an issue you just can't miss!
Small Business Employment Index - December 2015CBIZ, Inc.
Philip Noftsinger, President of CBIZ Employee Services Organization, talks about the surprisingly positive December reading of the Small Business Employment Index.
TaxAlerts cover significant
tax news, developments and
changes in legislation that
affect Indian businesses. They
act as technical summaries . For more information,
please contact EY India.
Overwhelmed by ever-changing Affordable Care Act regulations? You aren’t alone. The new wave of requirements are here, and that means new employer shared responsibility reporting rules for your business in 2015...or big fines if you don’t comply.
Check out our ACA presentation with health care reform and employee benefits experts from Arthur J. Gallagher & Co. and PeopleMatter to:
- Find out what the mandatory Section 6055/6056 reporting is, who it applies to in 2015 and why it’s so important
- Learn how to report minimum essential coverage, offers of coverage, full-time employee status and other essential elements of these forms to ensure compliance
- Get actionable tips on how to collect employee information, stay ahead of deadlines, save time and ease administrative burdens
- See hiring/scheduling tools designed to help you plan strategically and avoid reporting fines that can reach $1.5M
Health Reform Bulletin 141 | 2018 Forms and Instructions for 1094/1095 Series...CBIZ, Inc.
• 2018 Forms and Instructions for 1094/1095 Series ACA Reporting Forms
o Health Insurance Coverage Reporting by Insurers and Sponsors of Self-funded Plans (IRC Section 6055)
Instructions for 2018 Forms 1094-B and 1095-B
Form 1094-B, Transmittal of Health Coverage Information Returns
Form 1095-B, Health Coverage
o Employer Health Insurance Reporting Requirement (IRC Section 6056)
Instructions for 2018 Forms 1094-C and 1095-C
Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
• Adjusted Patient Centered Outcome Research (PCORI) fee
ACA Compliance Bulletin - IRS Issues Letter 5699 to Noncompliant EmployersKelley M. Bendele
An ALE that fails to comply with the Section 6056 reporting requirements may be subject to penalties equal to $260 per violation for failure to file correct information returns by required deadlines.
From 28th March, 2020, Government allowed non-refundable advance out of PF account balance to certain employees helping them fight the battle against Corona Virus. If Small and medium businesses educate and motivate their employees to avail this facility, their own financial burden will also be reduced.
Here is my power point presentation about the statutory provisions of scheme, how much can be withdrawn, procedure to claim and other issues.
The Income Tax Department has announced forms for filing I-T returns for the 2020-21 fiscal year, which is a significant development in the field of taxation. In spite of the ongoing COVID pandemic and to make it easier for taxpayers, no major changes to the ITR Forms have been made in relation to last year's ITR Forms. Only the bare minimum reforms were introduced as a result of revisions to the Income-tax Act of 1961.
Form 990-EZ is filed by the organizations whose gross receipts are less than $200,000 and total assets at the end of the year are less than $500,000. Steps to complete Form 990-EZ are explained in detail .
Amazing how the BIR makes it more difficult for taxpayers to file their Income Tax Return! Seriously, does anyone still use Internet Explorer? Good grief!
Issues in e filing of tax audit reports for ay 2014-15Ameet Patel
The format of the tax audit report that an Indian tax auditor issues has undergone considerable changes in July, 2014. The e-filing of the same also throws up multiple challenges. This presentation deals with some of the important issues that an auditor is likely to face while electronically filing the tax audit report.
Compilation of CBDT Notifications & Circulars issued in July 2020ManishBhatnagar21
Below is the list of Notifications & Circulars issued by CBDT in the month of July 2020 and the same has been compiled so that you won't miss any Notifications & Circulars updates from Income Tax Department:
Temporary Policy Changes to Form I-9 and E-Verify due to COVID-19 - Remote an...Smart ERP Solutions, Inc.
Form I-9/E-Verify updates during COVID-19 for remote and in-office hires
Description
As employers slowly move back to hiring on-site workers and others remaining remote, the differences in policies can be confusing regarding Form I-9 and E-Verify when bringing on new hires. Onboarding remote employees is already a challenge for employers - add the global pandemic with a mix of in-office and remote hires, and things can get frustrating, confusing, and even difficult for employers to comply with rules and regulations.
In this session, we heard directly from the Department of Homeland Security about all the updates for Form I-9 and E-Verify during the COVID period and the differences in policies between remote and on-premise new hires.
In response to the coronavirus (COVID-19) National Emergency Declaration, the United States Department of Homeland Security (DHS) announced temporary modifications to the Form I-9 Employment Eligibility Verification process, E-Verify, and enforcement actions.
Reference my post dated April 30th, 2015 for more details on this report and it's meaning in relation to the #CodeGate scandal @ https://procureinsights.wordpress.com/2015/04/30/when-it-comes-to-the-nigp-just-follow-the-money-mr-hansen-follow-the-money-by-jon-hansen/
The latest newsletter of The Advantage talks about how CWA is a continuous effort and spotlights the women that have been leading the charge for the past nine years. With features from Sabrina Rudolph, VP and Controller of Maxwell Technologies, and information of CBIZ women serving as mentors in 16 different cities; this is an issue you just can't miss!
Small Business Employment Index - December 2015CBIZ, Inc.
Philip Noftsinger, President of CBIZ Employee Services Organization, talks about the surprisingly positive December reading of the Small Business Employment Index.
CBIZ Small Business Employment Index - November 2015CBIZ, Inc.
November small business hiring reveals a surprisingly weak reading.
This month, 28 percent of companies included in the SBEI reduced headcounts, 21 percent increased payroll commitments, and 51 percent of the small businesses in the index made no change to their employee totals.
Small Business Hiring Trends - June 2015CBIZ, Inc.
The CBIZ Small Business Employment Index (SBEI) reported an increase of 0.81 percent this June, following a 1.36 percent increase during the month of May. June’s reading of the SBEI represents the fourth consecutive month of positive readings and is evidence of a positive hiring trend in the second quarter.
The December 2015 issue of The CBIZ Wellbeing Insights is out! This issue covers everything from providing a blueprint for Happy Holidays to the "Do-It-Every-Day" workout. With a section on financial goal setting and a sweet recipe for sweet potatoes rounding out the issue, this is definitely one not to be missed.
CBIZ Wellbeing Insights November 2015 is out! This month's issue puts the spotlight on Type 2 Diabetes. Also included are tips for getting ahead of holiday weight gain and ways to save during the holidays!
There are a number of ways you can reduce your 2015 tax bill. From mitigating the effect of the Net Investment Income Tax to ideas for retirement and estate planning, CBIZ MHM has outlined several tips you can use for your year end planning in our 2015 Individual Tax Planning Supplement. We encourage you to carefully consider how the strategies discussed in the supplement will benefit you and your family. You can also contact your local CBIZ MHM professional for more information.
BENCHMARKING: How Do You Stack Up Against Your CompetitionCBIZ, Inc.
It's important to know where you stand against the competition. Use this presentation to see how you can accurately compare yourself to the competition.
Professional Services Agreement: An Alternative Strategy to Hospital EmploymentCBIZ, Inc.
Any compensation arrangement between a hospital and physician must meet a litany of regulatory constraints, mainly those implicating the Stark Laws, the Anti-Kickback Statute, and the IRS regulations of not-for-profit entities.
This webinar covers: information that has to be collected | specific codes to use | pitfalls in completing the forms | changes to the final forms and instructions.
Health Reform Bulletin 132 | IRS Releases Finalized 2017 Forms and InstructionsCBIZ, Inc.
The 2017 Affordable Care Act reporting is upon us. The forms to be used, and the instructions for those forms, have just been released by the Internal Revenue Service. As a reminder, there are two annual reporting obligations imposed by IRC Section 6055 minimum essential coverage reporting, and by IRC Section 6056, employer shared responsibility reporting.
The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056.
On Sept. 17, 2015, the Internal Revenue Service (IRS) released final 2015 versions of the forms and instructions that employers will use to report under Sections 6055 and 6056.
Top 10 Most Common Affordable Care Act Reporting MistakesEPAY Systems
The complexity and magnitude of the Affordable Care Act (ACA) reporting process left many employers scrambling to meet deadlines this year. To help ease the process in the upcoming years, we have compiled the ten most common ACA reporting mistakes so you know what to avoid for next year’s filing.
News flash july 24 2014 -News Flash July 24 2014--IRS Releases Draft Pay or P...Annette Wright, GBA, GBDS
On July 24, 2014, the Internal Revenue Service (IRS) released draft forms for use by applicable large employers and insurers to report information on health coverage required under the Patient Protection and Affordable Care Act (PPACA).
Piece of Cake: Perfecting the Recipe for ACA Compliancebenefitexpress
Repeal and replace efforts have come and gone - it's time to prepare to comply with the Affordable Care Act for another year.
With chatter and speculation surrounding the ACA, it's easy to lose track of what's required of employers. Our one-hour refresher course covers:
- How to fill out form 1095-C
- Important filing dates
- Common compliance errors
- Penalties for noncompliance
Make this year’s ACA reporting a piece of cake.
The IRS makes small changes to many of their tax forms every year. The changes may just entail a box here or a line there, but all kinds of speculation - and wagering - precede the release of the changes. Here are the forms that have changed.
Complete ACA Reporting Services at No Additional CostDATIS
Is your HR and Payroll software charging you $15,000 or more to help you with ACA reporting? The DATIS fully unified solution includes comprehensive ACA monitoring and reporting tools to ensure accuracy and compliance seamlessly. The best part... it's free! Our cloud-based software allows us to quickly release new features and services to our clients in order to meet their needs. We do so at no additional cost, in order to ensure that all of our clients maintain accurate and compliant data and processes.
Form 1095-B For Organizations Employing Less Than 50 EmployeesCBIZ, Inc.
Form 1095-B provides information regarding any coverage you may have been enrolled in during the 2015 calendar year with a given insurance carrier. It will also list your spouse and/or any dependents who may have been enrolled in that same health plan. You can use the information on this form as proof of coverage for yourself and your enrolled family members. This information is proof to the IRS that you do not owe a penalty tax due to being uninsured.
Heath care reform updates for the week of September 1-7, 2014. Among the ACA topics we will cover this week are new IRS instructions for filling out ACA reporting forms and changes in dependent children coverage.
ADP Totalsource - Affordable Care Act Reporting and ComplianceTom Rehnberg
The Affordable Care Act represents a huge administrative burden this coming year and businesses are looking for a solution. The ADP Totalsource platform has the ability to relieve this new compliance burden to keep companies from risk of audits and penalties.
Code Section 6055 – What Information Must be Reportedntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055, which require health insurance issuers, sponsors of self-insured health plans, government agencies that administer government-sponsored health insurance programs and other entities that provide minimum essential coverage (MEC) to file information with the Internal Revenue Service (IRS) about the health plan coverage they offer…
Similar to IRS Issues Draft Forms and Instructions for 2016 Reporting (20)
BIZGrowth Strategies — Cybersecurity Special Edition 2023CBIZ, Inc.
As cybercriminals continue to advance and evolve, a stagnant cyber risk management approach is simply not an option. Further, the prevalence of cyber breaches means cybersecurity is not solely an IT concern. It takes a robust set of processes and people from across your organization, working together toward a common goal. We offer fresh insights to help protect your organization from cyberthreats in multiple operational areas. Articles include:
- How Cybercriminals Are Weaponizing Artificial Intelligence
- Employee Benefits Cyber Risk Exposure Scorecard
- Closing the Security Gap: Managing Vendor Cyber Risk
- Retirement Plan Sponsor Cybersecurity Checklist
- Protect Your Digital Frontline With Employee Training
BIZGrowth Strategies - Back to Basics Special EditionCBIZ, Inc.
Amid the increasing complexity of today’s business landscape, it can be of great benefit to shut out the noise and simply get back to the basics. Summer offers the rare opportunity for organizations to slow down and sweat the small stuff.
In this issue, our experts address seven key topics intended to help leaders guide their teams to stability and refocus on the foundational elements of success, including:
- Talent Management 101: How to Attract & Retain Great Employees
- Exploring the What, Why & How Behind the Employee Experience
- The Shifting Normal: 3 Ways Leaders Can Embrace Change & Conquer Challenge
- What is Financial Wellbeing & Why Should Employers Care?
- D&O Insurance Application Basics to Protect Your Leaders
- Your Life Insurance Policy May Be One of Your Biggest Assets
- Understanding Labor Law Poster Compliance
Welcome to our newly branded newsletter, "The Advantage." The articles in this issue provide insights to help you:
■ Have conversations around tough decisions during periods of economic uncertainty
■ Evaluate fast-growing artificial intelligence tools like ChatGPT
■ Recognize colleagues who are key allies in supporting women in the workplace
■ Navigate career shifts along the path to successful leadership
■ Manage workplace culture in a hybrid model
■ Garner inspiration from the 2023 Women Transforming Business finalists and winners
BIZGrowth Strategies - Workforce & Talent Optimization Special EditionCBIZ, Inc.
Amid today’s economic uncertainty, we know you need strategies and solutions that will help your business thrive. With workforce and talent concerns running high for employers across the nation, our experts developed these articles with those critical issues top of mind. We offer fresh insights designed to attract, retain, engage and motivate your employees — all while protecting your bottom line and managing emerging risks. Articles include:
- Unlock Success with Effective Performance Management
- How Employers Can Benefit from Financial Wellbeing Programs
- How to Talk About Hard Decisions During a Recession
- Cost-Effective Health Plan Perks to Consider in 2023
- 3 HR Strategies to Recession-Proof Your Organization
- Responding to Employment Practices Liability (EPL) Claims
- Versatility — Important in Life & Life Insurance
BIZGrowth Newsletter - Economic Slowdown Solutions Special EditionCBIZ, Inc.
The "Economic Slowdown Solutions Special Edition" newsletter includes articles that present tips, strategies and ideas to help your organization master economic uncertainty and recessionary concerns. Topics include:
- Considerations for a Reduction in Force
- Tips to Prepare for Risk Management Challenges
- Tactics to Recession-Proof Your Benefits Strategy
- HR Best Practices
- Recruitment Strategies to Keep You Competitive
- 3 Innovations to Stay Nimble
- Disability Insurance for Business Owners
BIZGrowth Strategies - Cybersecurity Special EditionCBIZ, Inc.
Cyberattacks are becoming more frequent and sophisticated, making a recovery from them increasingly difficult. Without preparation, a cyberattack can be devastating to your business, having severe operational, financial, legal and reputational implications.
The prevalence of cyber breaches also means cybersecurity is no longer solely an IT concern. Elevating your information security from functional to effective takes a robust set of elements, processes and people working together toward a common goal.
Our professionals have developed these articles and resources to help you protect your organization from these attacks.
Connections Help Law Practice Efficiently Obtain $5 Million Line of CreditCBIZ, Inc.
A 15-attorney law firm operated on a contingency and hourly fee basis. While it had a strong outlook for contingency cases, the costs incurred to work...
Custom Communication Plan & Active Enrollment Result in Increased ConsumerismCBIZ, Inc.
The firm embarked on a multi-year strategic plan to build a culture of wellbeing and engagement. They wanted
to educate employees to become more engaged and wise health care consumers...
Experienced Consulting Approach Leads Engineering Firm to the Right CFOCBIZ, Inc.
The Chief Financial Officer of a leading multi-disciplined engineering and consulting
firm indicated he was considering retiring. After initially considering a search process as an in-house project, the company’s leadership agreed...
Check out the latest edition for articles on Preventing Social Engineering Attacks, Triumphing in the Talent War, 3 Signs It’s Time for a Compensation Study, Strategies to Protect Your Retirement & Tips for a Successful OSHA Inspection.
Inflation, Interest Rates & the Disruption to CRECBIZ, Inc.
From assessing the various sectors to analyzing the future of your investments, learn more from our experienced team leaders on the wide-spread trends of commercial real estate property and sales.
CBIZ Quarterly Manufacturing and Distribution "Hot Topics" Newsletter (May-Ju...CBIZ, Inc.
CBIZ Quarterly Manufacturing and Distribution "Hot Topics" Newsletter (May-Jun 2022) provides you with news and guidance on the labor crisis, how to retain top talent during the Great Resignation, the business impacts of the Russia-Ukraine War, and the benefit of long-term bonus plans.
Rethinking Total Compensation to Retain Top TalentCBIZ, Inc.
Even with a developed recruiting program, strong company culture and great work-life balance, it’s difficult for companies to attract and retain the best employees without an all-inclusive compensation strategy. Add in the combination of high inflation, talent shortages and the Great Resignation, and we’re left with a hyper-competitive labor market. As a result, employers must think outside of the box to retain top performers and explore new ways to increase the value of total compensation offered. Learn how in this article.
Common Labor Shortage Risks & Tips to Mitigate Your ExposuresCBIZ, Inc.
No industry is safe from the risks of the current labor market. Employee shortages can influence multiple liabilities, but a proactive strategy can help protect your organization. In this article, learn measures to minimize labor shortage liability risks across all industries, as well as influential industry risks for construction, manufacturing and trucking.
How the Great Resignation Affects the Tax FunctionCBIZ, Inc.
Talent shortages remain a challenge universally, but it may be hitting financial roles within businesses particularly hard. The
pressures to meet tax reform obligations coupled with the
job changeover opportunities that emerged during the Great Resignation have left many tax departments feeling under-resourced. If your company is experiencing a similar situation, here are steps you can take to support your tax function.
While employee turnover is inevitable, there are several strategies companies can implement to help combat the Great Resignation, and at the center of all these strategies is technology that can benefit employers and their staff. In this article, learn how your organization can use technology to enhance the recruiting and onboarding processes, which will help attract top talent, while setting new hires up for success.
Experienced Consulting Approach Leads Engineering Firm to the Right CFOCBIZ, Inc.
The Chief Financial Officer of a leading multi-disciplined engineering and consulting firm indicated he was considering retiring. After initially considering a search process as an in-house project, the company’s leadership agreed to secure the assistance of an executive search professional.
BIZGrowth Strategies - The Great Resignation Special EditionCBIZ, Inc.
The Great Resignation continues to plague organizations across the country. It has exacerbated a host of employer challenges, including attraction, retention and engagement of top talent, as well as mitigating new risks. Our experts have developed these articles and linked resources to help your organization combat the mass employee exodus.
Kansas businesses have an opportunity for state tax incentives of which you may want to be aware.
Recent changes to the Kansas High Performance Incentive Program (HPIP) make it more broadly available
than it was in the past.
CBIZ Quarterly Commercial Real Estate "Hot Topics" Newsletter (Jan-Feb 2022)CBIZ, Inc.
The January 2022 issue of CBIZ’s Commercial Real Estate Quarterly Hot Topics Newsletter is now available! Learn about the impact of changes lease accounting, post-pandemic calculation companies are using to reassess office space needs, tax planning knowns and unknowns and the impact of rising construction costs on insurance costs. Plus – access strategies to combat the great resignation and safeguard against the unexpected.
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DECODING THE RISKS - ALCOHOL, TOBACCO & DRUGS.pdfDr Rachana Gujar
Introduction: Substance use education is crucial due to its prevalence and societal impact.
Alcohol Use: Immediate and long-term risks include impaired judgment, health issues, and social consequences.
Tobacco Use: Immediate effects include increased heart rate, while long-term risks encompass cancer and heart disease.
Drug Use: Risks vary depending on the drug type, including health and psychological implications.
Prevention Strategies: Education, healthy coping mechanisms, community support, and policies are vital in preventing substance use.
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Resources: Provide contact information and links for further support.
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IRS Issues Draft Forms and Instructions for 2016 Reporting
1. CBIZ HEALTH REFORM BULLETIN
Subject: IRS Issues Draft Forms and Instructions for 2016 Reporting
Date: August 17, 2015
On August 6, 2015, the Internal Revenue Service (IRS) issued draft 2015 Forms and Instructions
for the annual reporting that will be required in 2016 by employers subject to the Affordable Care
Act’s shared responsibility requirements, as well as by plans providing minimum essential
coverage (MEC):
Instructions for Forms 1094-B and 1095-B
Form 1095-B, Health Coverage
Instructions for Forms 1094-C and 1095-C
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
These forms are used to satisfy the IRC Section 6056 and 6055 reporting requirements. The
Form 1094-B and 1095 B-series is used for reporting MEC; and the Form 1094 and 1095-C series
is used for reporting employer provided coverage by employers subject to the ACA’s shared
responsibility requirement.
It is important to note that these instructions and forms are drafts only and subject to change.
HIGHLIGHTS FROM DRAFT INSTRUCTIONS APPLICABLE TO BOTH B AND C SERIES OF THE FORMS 1094
AND 1095:
Due Date. For forms filed in 2016 reporting coverage provided in calendar year 2015, the
Forms 1094 and 1095 of the B and C series are required to be filed with the IRS by February
29, 2016; or March 31, 2016, if filing electronically.
Electronic filing. Reporting entities required to file 250 or more information returns must file
the forms electronically (eFile). The 250-or-more requirement applies separately to each type
of form. For example, if an entity is filing 500 Forms 1095-B and 100 Forms 1095-C, then it
must file the Forms 1095-B electronically, but is not required to e-file the Forms 1095-C.
While the IRS encourages entities to file electronically even if there are less than 250 returns,
entities can apply for a hardship waiver from the electronic filing requirement. To receive a
waiver, entities must file a Form 8508, Request for Waiver From Filing Information Returns
Electronically with the IRS at least 45 days prior to the due date of the returns.
For entities that eFile the forms, the IRS has developed a guide (Pub. 5165, Guide for
Electronically Filing Affordable Care Act (ACA) Information Returns (AIR) for Software
Developers and Transmitters) of the various procedures, transmission formats, business rules
and validation process for eFiled returns through the IRS’ AIR system.
Extension of time to file. An automatic 30-day extension of time to file the B or C series of
forms is available by completing Form 8809, Application for Extension of Time to File
August 17, 2015 – HRB 114 Page 1
2. CBIZ HEALTH REFORM BULLETIN
Information Returns. The Form 8809 may be submitted on paper or through the FIRE System
either as a fill-in form or an electronic file. No signature or explanation is required for the
extension. However, the Form 8809 must be filed with IRS by the due date of the return in
order to get the 30-day extension. It should be noted that proposed regulations issued by the
IRS earlier this week would disallow the automatic 30-day extension.
Substitute returns. Entities not using the designated IRS forms may be able to use a
substitute form, as long as the form meets the IRS required criteria. See IRS Publication
5223, General Rules & Specifications for Substitute Affordable Care Act Forms 1094-B, 1095-
B, 1094-C, and 1095-C and Certain Other Information for specifications for private printing of
substitute information returns.
Correcting forms. The Instructions provide information about how to make corrections on
forms that have already been submitted to the IRS, as well as information about how to
provide corrected forms that have already been furnished to individuals.
Consent to furnish statement electronically. The IRS requires entities to obtain an
affirmative consent when furnishing a statement electronically to individuals. The consent
must relate specifically to the relevant Form 1095-B or 1095-C. The individual may consent
on paper or electronically, such as by e-mail. If consenting by paper, the individual must
confirm the consent electronically. A statement may be furnished electronically by e-mail or
by informing the individual about how to access the statement on the reporting entity’s
website. In addition, the instructions outline the steps to be taken if an extension of time is
needed for purposes of furnishing statements to individuals.
Penalties for failure to file. The instructions reiterate the potential increased penalties for
failure to comply with reporting requirements (see Increase in Tax Information Reporting
Penalties from CBIZ HRB 112, Updates on Section 6055/6056 Reporting, 7/13/2015. Given
the increase in these penalties, it is very important that a good faith effort be made to comply
with these reporting obligations.
Penalty Relief. For 2015 reporting, the IRS indicates that it won't impose penalties on filers
for reporting incorrect or incomplete information, including TINs or dates of birth, if the
reporting entity can show that it has a made good faith effort to comply with the information
reporting requirements for coverage in 2015.
Record retention. Copies of information returns filed with the IRS, or the ability to
reconstruct the data, must be kept for at least 3 years, measured from the due date of the
returns.
FOLLOWING ARE SOME OF THE SPECIFIC CHANGES TO FORM 1094-B:
Supplemental coverage. Entities filing the B series are not required to report supplemental
coverage for purposes of MEC reporting. This would include coverage that supplements a
government sponsored program such as Medicare or TRICARE; or, coverage provided to an
individual in one or more plans provided by the same plan sponsor, i.e., the plan sponsor is
required to report only one type of MEC. According to the instructions, coverage is not
deemed to be provided by the same plan sponsor if they aren't reported by the same reporting
entity. Thus, an insured group health plan and a self-insured health reimbursement
arrangement covering the employees of the same employer aren’t considered supplemental.
August 17, 2015 – HRB 114 Page 2
3. CBIZ HEALTH REFORM BULLETIN
This might be particularly relevant when an employer offers a retiree-only health
reimbursement arrangement.
In Part II of Form 1095, lines 10–15 request employer information, such the name, EIN, and
mailing address for the employer sponsoring the coverage. If the employer is a member of a
controlled group, information for the specific controlled group member that is the covered
employee’s employer is entered in these lines. The instructions clarify that if the coverage is
provided through an association or a Multiple Employer Welfare Arrangement, information for
the participating employer of the covered employee must be provided. Part II of the form need
not be completed if the coverage is provided through a multiemployer.
Part IV of the Form requires information about the covered individuals, such as name, SSN or
date of birth, and series of check boxes in indicate the months that an individual was covered
under the plan. The draft instructions clarify that if an individual wasn't covered for all months,
the applicable box(es) for the months in which the individual was covered for at least one day
must be checked. In addition, if there are more than six covered individuals to report, then this
information for the additional covered individuals must be provided on Part IV, Continuation
Sheet.
FOLLOWING ARE SOME OF THE SPECIFIC CHANGES TO FORM 1094-C:
Form Revisions:
For 2015, the Form 1094-C was revised to move line 19 (Is this the Authoritative
Transmittal for this ALE Member?) into Part I of the form and to allow for an entry in the
“All 12 Months field” in Part III, Line 23, column (b) Full-Time Employee Count for an
applicable large employer member.
Plan Start Month. Part II of the Form 1095-C includes a box to place a 2-digit indicator
code for purposes of identifying the calendar month of the beginning plan year in which the
employee is offered coverage. This box is optional for 2015 form but may be made
mandatory in future years.
Breaks in service. An employee on unpaid leave during the break in service is treated as an
employee for reporting purposes during the break in service; while a former employee whose
employment had been terminated during the break in service would not be treated as an
employee for reporting purposes.
Minimum value. A plan provides minimum value if the plan pays at least 60% of the costs of
benefits and provides substantial coverage of inpatient hospitalization services and physician
services. An offer of coverage under a plan that fails to provide substantial coverage of
inpatient hospitalization and physician services should be reported on Form 1095-C as not
providing minimum value, even if an employer qualifies for the IRC Section 4980H transition
rule.
Indicator codes for Employee Offer and Coverage. In Line 14, a series of codes are used
to indicate the type of coverage offered to employees and their dependents. The draft
instructions clarify explanations of some of these codes:
An offer of coverage is treated as made to an employee’s dependents only if the offer of
coverage is made to an unlimited number of dependents regardless of the actual number
of dependents, if any, an employee has during any particular calendar month.
An offer of COBRA continuation coverage that is made to a former employee upon
termination of employment is reported as an offer of coverage using the appropriate
August 17, 2015 – HRB 114 Page 3
4. CBIZ HEALTH REFORM BULLETIN
indicator code on line 14 only if the former employee enrolls in the coverage. If the former
employee does not enroll in the coverage (even if a spouse or dependent of the former
employee independently enrolls in the coverage), code 1H (No offer of coverage) should
be entered for any month for which the offer of COBRA continuation coverage applies. An
offer of COBRA continuation coverage that is made to an active employee (for instance,
an offer of COBRA continuation coverage that is made due to a reduction in the
employee’s hours that resulted in the employee no longer being eligible for coverage
under a plan) is reported in the same manner and using the same code as an offer of that
type of coverage to any other active employee.
Calculating employee’s share of premium. Line 15 requires the dollar amount of an
employee’s share of the lowest cost monthly premium for self-only minimum value coverage.
For purposes of determining the monthly employee contribution, an employer can divide the
total employee share of the premium for the plan year by the number of months in the plan
year to determine the monthly employee contribution for the plan year. This monthly employee
contribution would then be reported for any months of that plan year that fall in the 2015
calendar year.
In the case of a multi-employer plan, each employer contributing on behalf of an individual
participating in a multi-employer plan is responsible for reporting. An employer can satisfy its
shared responsibility obligation by contributing to the multi-employer plan, but it remains
responsible for tracking the individuals and making certain that the reporting obligation is
accomplished. The employer should make certain it can obtain from the multiemployer plan,
information such as who participated and that the plan meets minimum value and
affordability. An employer can satisfy its obligation by completing Line 14, using code 1H and
in Line 16, Code 2E.
In several places throughout the draft instructions, the IRS provides tips and examples; for
instance, in the qualifying offer discussion, the IRS provides alternative methods of reporting.
These tips and examples should prove to be useful for filers.
As soon as the instructions are finalized, we will provide additional information. In the meantime,
employers and other responsible entities should familiarize themselves with these forms and
instructions to ensure being prepared for the filings due in 2016.
The information contained herein is not intended to be legal, accounting, or other professional advice, nor are these
comments directed to specific situations. The information contained herein is provided as general guidance and may be
affected by changes in law or regulation. The information contained herein is not intended to replace or substitute for
accounting or other professional advice. Attorneys or tax advisors must be consulted for assistance in specific situations.
This information is provided as-is, with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in
connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could
affect the information contained herein.
As a reminder, the CBIZ ACA CheckPoint provides employers with the tools to determine whether they are an applicable large employer,
track and manage employee measurement periods, and aid in complying with ACA’s employer shared responsibility reporting requirements.
To view a short video demonstration of CBIZ ACA CheckPoint, click HERE. CBIZ is also hosting a webinar on August 20th entitled, CBIZ ACA
CheckPoint: Is This Your Solution for Employee Measurement, Tracking and Reporting for 2015? Time is running out! Click HERE to register
for this webinar. Please note new implementation requests for CBIZ ACA CheckPoint will only be taken until October 1, 2015 to
ensure adequate time for implementation. For more information about CBIZ ACA Checkpoint, contact your local CBIZ consultant.
August 17, 2015 – HRB 114 Page 4