Tax Provision Compliance for Affordable Care Act for Employers : ACA, 1095-C, 1094-C, W9 & 941

Why Should You Attend:

As of January 1, 2015, large employers (employers with 50 or more full time employees or equivalents) must be in compliance with the Employer Shared Responsibility Provision under the ACA. This applies to all large employers - profits, nonprofits, and government organizations. The main requirement under this tax provision is that these employers provide affordable health coverage for employees, and the insurance provides minimum value. If employers are not compliant with this requirement, they are penalized.

There are also new required reporting requirements for all employers under the ACA. These reporting requirements are no longer voluntary. Employers need to know what information needs to be reported and how often. Employers will also have to complete new tax forms for the 2016 tax filing period. They need to understand what information is required to complete the forms and how to complete the forms. Penalties will also be assessed for not being compliant with reporting requirements. In addition, employers need to know the correct information to report on Form W-2 and Form 941.

This webinar will enumerate Employer Shared Responsibility Provision requirements as stipulated by the ACA and the ACA reporting requirements for all employers.

Areas Covered in the Webinar:

• How to determine if an employer is small or large
• Understanding the exceptions that can require small employers to comply with large employer requirements
• Understanding Employer Shared Responsibility Provision requirements for 2015
• Understanding the penalties assessed for noncompliance of the Employer Shared Responsibility Provision
• Understanding reporting requirements for employers vs. health insurance providers
• Understanding the two information returns that are required to be filed in 2016
• How to complete and file Forms 1095-C and 1094-C
• Understanding the penalties assessed for noncompliance of the reporting requirements
• Understanding what the ACA requires employers to report on Forms W-2 and 941

Who Will Benefit:

• Business owners
• Public corporation accounting personnel
• Accounting personnel for nonprofits and private owned businesses
• Company executives/management
• Human resources personnel
• Attorneys
• Accountants and CPAs

Instructor Profile:

Financial and business compliance coach, JeFreda Brown, helps maximize the business potential of small and medium sized businesses, nonprofits, government agencies, colleges, organizations, agencies, and self-employed individuals.

As CEO of Goshen Business Group, LLC (formerly Brown Accounting Solutions, LLC), Ms. Brown can provide a unique suite of specialized services that are customized for an organization’s particular needs. Some of her areas of expertise include tax planning, budget preparation, DCAA audit consulting, government contract accounting system and internal controls compliance consulting, pricing proposal development, financial management, payroll compliance, business development/management consulting, professional development training, train the trainer services, business planning, grant writing, 501(c)(3) preparation, and more.

With over 16 years of business experience in areas such as accounting, finance, real estate, taxes, federal auditing (DoD), low income housing tax credits, project and compliance management, contract administration, human resources, and teaching, Ms. Brown is one of America’s premiere financial and business compliance coaches. She earned her BS degree in math from Mississippi State University with a minor in Spanish. She also has an MBA in finance from Mississippi College.

Ms. Brown has been featured in numerous print and online articles for various industry websites, blogs, and magazines including US News, YFS Magazine, DailyWorth, and Intuit Small Business Blog. She has also been interviewed on Bloomberg Radio and The Ambitious Entrepreneur Show. She is the author of the eBook, 12 Reasons You Need an Accountant for Your Small Business available on Amazon. Ms. Brown is also featured in the forthcoming book, How To be #HLIC Head Lady in Charge as well as the Head Ladies in Charge movie. She is also an adjunct professor in the accounting and finance department of the Collat Business School at the University of Alabama in Birmingham.

Topic Background:

The Affordable Care Act (ACA) contains tax provisions that affect businesses and tax-exempt organizations. These provisions also affect individuals and other government organizations, as well as insurance companies. For employers, it is very important to maintain compliance with the ACA tax provisions. This is because certain information has to be reported by employers. If employers do not maintain compliance with ACA tax provisions, they will be penalized. The ACA distinguishes between small and large employers. Different tax provisions apply to each. Employers need to know if they are considered small or large employers and which ACA tax provisions apply to them.

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