ACA: 3 Reasons To Pay Attention NOW

ACA: 3 Reasons To Pay Attention NOW

Written By: Integrity Data

July 28, 2015

If you don’t already have a plan to file new IRS forms due Q1 2016 for Affordable Care Act compliance, now’s the time to get serious.

•  The non-filing fine for mandated IRS reporting, including ACA returns, has just gone up.

•  If you have 250 or more submissions – or you’re in a commonly controlled or affiliated group – standard ACA functionality in Microsoft Dynamics GP won’t be enough for ACA compliance.

Here’s what we’re talking about:

1.  If – for every eligible employee – you do not print a Form 1095-C (the very complicated ACA counterpart to a W-2), you’ll be fined $500 per required return. Read this blog post on recent changes that affect all IRS reporting.

2.  E-filing of Form 1094-C (the transmittal of Form 1095-C) is required for submissions of 250 or more. E-filing functionality is not available in the ACA changes to GP 2013 and GP2015.

3.  To be ACA compliant, entities that are commonly controlled or affiliated must consolidate reporting on Form 1094-C. With ACA changes to GP 2013 and GP 2015, you can print Form 1094-C from employee records on a single database, but not from records on multiple databases.

So you don’t have to sweat IRS consequences for – or GP limitations in – ACA, contact us to learn more about our new Sypnio ACA Compliance Solution.

If you’d rather see this ACA tool live and, at the same time, get educated on the law behind it, register here for one of Integrity Data’s webinars held every Wednesday at 1:30 pm CDT.