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Posts published in September 2015

IRS Releases Final Version of the Year End ACA Forms


This past week, the Internal Revenue Service has published the final versions of Forms 1094-C and 1095-C, and their respective instructions for tax year 2015.  These forms will be used by employers to report offers of health insurance coverage made to their full-time employees after year end.  While not much has changed on the forms themselves from the earlier draft, there has been some clarification in reporting in the final version of the instructions. Applicable large employers (ALE) must file these forms with the IRS annually, no later than February 28 (March 31 if filed electronically) of the year immediately…

EEO-1 Report Deadline Extended


The Equal Employment Opportunity Commission (EEOC) requires certain companies over a certain size to submit a report categorizing their employees by race/ethnicity, gender, and job category. This demographic survey, called the EEO-1, is due by October 30th, which gives you an additional month from the original deadline of September 30th. Companies that meet the following criteria are required to file the report: • Have 100 or more employees; or • Have fewer than 100 employees if the company is owned by or affiliated with another company and the entire enterprise employs a total of 100 or more employees; or •…

Do you know the difference between an Employee and an Independent Contractor?


Be aware that you must classify your employees correctly. If you do not, and you are audited, you may face payment of back wages plus taxes and fines. If you are paying anyone via a 1099 form, re-evaluate and make sure they do not fall within the IRS guidelines for employees. The IRS has 3 categories in determining whether or not someone is an employee or an independent contractor. Behavioral:  Does the company control or have the right to control what the worker does and how the worker does his/her job? Financial:  Are the business aspects of the worker’s job…