On Tuesday, June 2nd, Creative Benefits Inc. (CBI) hosted a reporting workshop for clients and colleagues to review the new requirements under Sections 6055 & 6056 of the Internal Revenue Code. “It is imperative that Employers understand and begin to prepare for the Employer Shared Responsibility Provision,” says Ann Duke, General Counsel at CBI. Plans should be set in motion no later than September of this calendar year, to ensure deadlines are met and penalties are avoided. The complexity of the reporting is putting an undue burden on business owners and human resource professionals. “Our account teams are prepared to work step by step with our clients to clarify which parts of the legislation affects them and how to complete & file the required reports,” adds Macee Keelan, Executive Vice President of CBI.
The discussion focused on answering common questions including…
- What size is your company under to the Affordable Care Act ? Which parts of the Internal Revenue Code Sections 6055 & 6056 affect you ?
- Is your offer of coverage ‘Affordable’ ? Does it meet ‘Minimum Value’ requirements ?
- New tax forms: 1094-B, 1094-C, 1095-B, 1095-C – Which forms are you required to file with the IRS? Which forms are you required to provide to your employees ?
- How to classify your Offer of Coverage & Safe Harbor Codes on the Employer Transmittal and Employee Statements.
- Mandatory filing deadlines for calendar year 2015 ! Penalties for non-compliance.
- Identifying the information needed and how to complete the required forms.
Our next workshop is Tuesday, June 16 at 9:00 AM at Aronimik Golf Club. Register via email to ckennedy@creativebenefitsinc.com
Click here to download an overview from our June 2nd workshop for Employers in the Scranton area: 6055 and 6056 Reporting Health Care Reform Event – June 16th
