BAS Blog


 

Question of the Week

Q.- Who is considered a “child” under a dependent care FSA?

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IRS Form 1094 Electronic Transmission Due

Applicable Large Employers (employers with 50 or more full-time equivalent employees) should have completed their employee shared responsibility form distribution reporting for the 2017 plan year. IRS 1095 forms were required to be furnished to full-time employees and covered employees by March 2, 2018.

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DOL Payroll Audit Program

The U.S. Department of Labor, (DOL) Wage and Hour Division, announced a new pilot program to allow employers to report and resolve potential overtime and minimum wage violations under the Fair Labor Standards Act (FLSA). The program, called the Payroll Audit Independent Determination (PAID) program will be implemented for 6 months. At the end of the pilot, the Department of Labor will evaluate the program and determine if it will continue.

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Question of the Week

Q.- I read about a filing that has to be made with the EEOC by the end of the month. Is this something all employers must do?

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COBRA Qualifying Events

The Consolidated Omnibus Budget Reconciliation Act (commonly known as “COBRA”) requires an employer subject to COBRA to offer certain individuals the opportunity to continue group health coverage, at their own cost, when specific events occur. Employers are subject to COBRA if they employed 20 or more employees in the prior business year.

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IRS ESRP Assessments

The IRS is just now reviewing Affordable Care Act reporting submissions for the 2015 tax year. Some employers have been receiving Letter 226J from the IRS. This letter informs the employer that the IRS determined the employer is subject to an Employer Shared Responsibility Penalty (ESRP). The letter explains the proposed penalty and gives the employer an opportunity to contest the assessment.

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Federal Poverty Level for Affordability

An Applicable Large Employer must offer its full-time employees minimum essential coverage that is affordable and provides minimum value. Health coverage is considered affordable if the employee’s contribution for the lowest-cost self-only coverage is 9.5% or less of the employee’s household income. In 2018, the 9.5% has been adjusted to 9.56%.

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Health Benefits Advisor for Employers

The Department of Labor provides resources for employers to help them comply with federal laws. The “Health Benefits Advisor” is an interactive tool addressing

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Question of the Week

Q.- An employee just got a divorce. The spouse was removed from our health coverage, and so were the employee’s children. Is this a qualifying event for all of his family members?

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Question of the Week

Q.- We started our business this year and we already have 35 employees. Our first employee resigned. Do we offer him COBRA coverage?

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Employee Priorities for Federal Government Employers

The U.S. Office of Personnel Management issued its 2018 Federal Workforce Priorities Report identifying six approaches to reshaping the federal workforce. The report offers strategies for federal agencies to use in reshaping their workforce and maximizing employee performance.

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IRS Issues Best Practice Guidance on ACA for Tax Return Preparers

Anticipating individuals filing their tax returns by April 15, the IRS has released best practices for tax return preparers in gathering ACA compliance information.

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Question of the Week

Q.- We are a large employer and we use the look-back method for determining full-time status. We are hiring someone as a full-time employee. Will they be considered full-time or not full-time for 2018 because they don’t have hours to look back on for our prior measurement period?

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FLSA Overtime Calculator Advisor

The Fair Labor Standards Act (FLSA) requires covered, nonexempt employees to be paid at least the federal minimum wage for each hour worked and to be paid overtime pay at one and one-half times regular rate of pay for hours worked over 40 in a workweek.

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2018 Form 1095 Distribution Deadline- Tomorrow!

Employers must make sure they have furnished to employees and covered individuals any required Affordable Care Act (health care reform) 1095 reporting forms. 

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