In late December 2017, the IRS announced an extension for employer’s providing Affordable Care Act forms to employee’s. As the future of the Affordable Care Act is still undecided, employers should be proactive in distributing and communicating information to the workforce.
Below are 4 updates for the ACA:
- Extension: The IRS extended the date to March 2, 2018 to distribute the 2017 forms to employees. This is a 30-day extension to the regularly scheduled date of late January 2018.
- Penalty: “The IRS, which announced the extension December 22 in Notice 2018-06, also said it will not impose penalties on employers that can show that they made good-faith efforts to comply with the Affordable Car Act’s (ACA’s) information reporting requirements for plan year 2017.”[1]
Notice 2018-06
Information Reporting Requirements for Plan Year 2017
- IRS Filing Deadline: The due dates for filing 2017 returns with the IRS is not extended. The due dates to file information returns with the IRS remain; February 28 paper filers and April 2 electronic filers.
- The Future and Beyond: “Although this is the third year that the IRS has granted transition relief for reporting, the notice states significantly that the IRS does not anticipate granting transition relief for 2018 or future years,” Jost pointed out. “This statement highlights the fact that, although the individual mandate penalty is repealed as of 2019, the reporting requirements that support it, as well as the employer mandate, remain in effect.”[2]
Affordable Care Act (ACA) Tax Provisions
Form 1095-B
Form 1095-C
As leader’s, we must be proactive in approaching the Affordable Care Act’s current and future legislation. As the individual mandate penalty is repealed, the healthcare law is still the law of the land, for now. Continue to watch for more changes in 2018 and 2019. The ACA is complex, seek guidance if you are unclear on a path-forward.
Below is a link to the NYS Paid Family Leave Resources:
NYS Paid Family Leave Employer Webinar
PFL Resource Page
Model Language for Employer Material
[1] https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/irs-extends-aca-form-distribution-deadline.aspx
[2] https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/irs-extends-aca-form-distribution-deadline.aspx
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Published by Mathew W. Burr, MJ-LEL, MBA, MHRIR, GPHR, SHRM-SCP, SPHR, CPHR
Matthew Burr has over eleven years of experience working in the human resources field, starting his career as an Industrial Relations Intern at Kennedy Valve Manufacturing to most recently founding and managing a human resource consulting company; Burr Consulting, LLC. Prior to founding the consulting firm, the majority of his career was spent in manufacturing and healthcare. He specializes in labor and employment law, conflict resolution, performance management, labor and employment relations. Matthew has a generalist background in HR and provides strategic HR services to his clients, focusing on small and medium sized organizations. He is a retired Assistant Professor of Business Management from Elmira College, an Adjunct Professor at Alfred State University and Collin College. Matthew is also the SHRM Certification Exam Instructor at the college, his students currently have an 80% pass rate on the SHRM-SCP and 92.3% pass rate on the SHRM-CP. Matthew works as a trainer Tompkins Cortland Community College, Corning Community College, Broome Community College and Penn State University. He also acts as an On-Call Mediator and Fact-Finder through the Public Employment Relations Board in New York State, working with public sector employers and labor unions.
Matthew has publications at the Cornell HR Review, Business Insider, New York State Bar Association, Expert 360 (in Australia). In early 2017, he published his first book, “$74,000 in 24 Months: How I killed my student loans (and you can too!).”
Matthew has an associate's degree in business administration from Tompkins Cortland Community College, a Bachelor of Science degree in business management from Elmira College, a master's degree from the University of Illinois School of Labor and Employment Relations in Human Resources & Industrial Relations and a Master’s in Business Administration specializing in entrepreneurship from Syracuse University. He currently holds a Lean Six Sigma Green Belt, Senior Professional in Human Resources (SPHR), Global Professional in Human Resources (GPHR) and the Society of Human Resource Management Senior Certified Professional (SHRM-SCP) certifications.
Matthew has been featured on CNN Money, Fast Company, Fits Small Business, Magnify Money, My Twin Tiers, Namely, Student Loan Hero, Smart Sheet and CEO Blog Nation.
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