BTerrell Group Blog

ACA relaxes Form 1095-C distribution deadline

Posted by Brian Terrell on Tue, Dec 29, 2015

Yesterday afternoon, the IRS issued Notice 2016-4, which provides unexpected relief to employers distributing those soon to be well-known Form 1095-C information returns to employees. This late Christmas present will be well received by every employer struggling with system update and information gathering challenges. Applicable Large Employers (‘ALE’) and insurance companies now have nearly two additional months to get forms in the mail to employees. This additional time applies not only to Form 1095-C but also to Forms 1094-B, 1094-C, and 1095-B. Who said there wasn’t a Santa Claus?

If you are an Intacct end user struggling with ACA compliance or just want more information on fully integrated HRMS and Payroll for Intacct, please contact BTerrell Group. We're ready to discuss the incredible return on investment and decreased total cost of ownership offered by SaaS finance, accounting and HR applications!

By Brian Terrell of BTerrell Group, LLP, Intacct and Sage ERP & CRM provider based in Dallas.

Tags: HR software, ACA, HR, hrms, Intacct, taxes, IRS, technology ready for ACA, SMB HR, ACA compliance,

Exciting Improvements Made to AmeriFlex Workforce Management System

Posted by Brian Terrell on Mon, Dec 28, 2015

Workforce_Management.jpgUsers of the AmeriFlex Workforce Management System are enjoying a user interface update recently made that streamlines the navigation experience.  As noted on this infographic, “Here’s a sneak peek of your new Workforce…,” the floating navigation bar has been replaced with intuitive icons and links.  The search bar has been moved to a more prominent position, so you can find data faster.  Other changes include compact icons that replace cumbersome cascading menus and clusters with subheadings that simplify the menu to remove distracting clutter.  These and many other enhancements make entering and finding data easier and speedier, which helps you do more work with less effort so you can spend time winning new customers and serving existing ones! 

Because Ameriflex delivers Workforce software as a service (“SaaS”), clients companies were required to do absolutely nothing to take advantage of these exciting and effective user interface improvements. Imagine how much money you save by having changes automatically deployed on all BTerrell Group SaaS solutions, including Intacct, Workforce Go!, and Nexonia. If your company is still paying large fees to service providers to keep your software current, contact BTerrell Group to learn more about the incredible return on investment and decreased total cost of ownership offered by SaaS finance and accounting applications!

By Brian Terrell of BTerrell Group, LLP, Intacct and Sage ERP & CRM provider based in Dallas.

Tags: ACA, Intacct, technology ready for ACA, ACA compliance,

A Study in Unintended Consequences - ACA Results in Shorter Employee Workweeks

Posted by Brian Terrell on Mon, May 18, 2015

The construction industry seems to be booming in the Dallas/Fort Worth metroplex, so I was surprised to recently hear of a young man in Dallas having trouble finding a job working 40 hours per week in that industry. As I considered the situation, I realized that many companies may be lowering the number of hours available to employees, and this could be an unintended consequence of Affordable Care Act (ACA) requirements taking effect in January 2015.

UNINTENDED_CONSEQUENCES

The ACA requires employers to provide coverage or pay a penalty based on the number of employees working 30 or more hours per week. The Employer Shared Responsibility provision of this statute defines a full-time employee as an individual employed on average at least 30 hours of service per week, and this provision applies only to employers with 100 full-time employees starting in 2015 (50 full-time employees starting in 2016).

As a result, many companies across various industries are changing scheduling activities. According to Fox Business, Mercer, a human resources consulting company, conducted a survey that concluded that 12% of all U.S. employers reported plans to reduce workers’ hours as a direct result of the ACA. Fox Business also reported that in a survey conducted by the Society for Human Resource Management (SHRM), 41% of 603 small business owners said they have delayed hiring because of the federal healthcare law. One in five had already cut hours when the survey results were published. A report from the UC Berkeley Labor Center shows which workers are most at risk of reduced work hours under the ACA.

Constuctionbusinessowner.com suggests seven steps to prepare for ACA regulations including tracking employee work hours and determining who you must cover, but I suggest leaving the details to the experts to help avoid penalties. Luckily for Intacct users, AmeriFlex Workforce (integrated with Intacct through WorkforceGo!) helps make ACA compliance monitoring easy by simplifying processes around ACA compliance, providing accurate visibility into average hours worked by full-time and part-time employees (including the look-back and stability periods), and automating benefits eligibility notification and open enrollment.

Contact us for more information about AmeriFlex Workforce and how it can help simplify ACA compliance for your company.

Tags: Affordable Care Act, ACA, AmeriFlex, Workforce Go!, ACA compliance,

Why Is It Important for Employers to be “Technology Ready” for the Affordable Care Act?

Posted by Brian Terrell on Thu, Sep 11, 2014

By now, you have surely heard about the employer mandate included within the Affordable Care Act (ACA), often referred to as “play or pay.” (Quick recap: Employers must offer “minimum essential health coverage” to full-time employees that is both “affordable” and offers “minimum value.”) But do you understand all of the implications on your small or midsize business? Does the mandate apply to you? How do you calculate full-time employees?  Do you factor in employees working for your company outside the United States? What if you make a mistake?

Here are a few startling details about the employer mandate that I’ve come across:

  • If an employer subject to the mandate does not provide “minimum essential health coverage” to full-time employees and a full-time employee then obtains subsidized coverage on an exchange, the IRS may assess an annualized penalty equivalent to $2,000 multiplied by the total number of full-time employees in the workforce.
  • If coverage offered is not considered “affordable,” then the IRS may assess an annualized penalty of $3,000 per eligible employee who seeks subsidized coverage under an exchange.

In June 2014, the U.S. Chamber of Commerce released a statement saying, “Despite the commendable efforts of the officials at the Treasury, exceedingly high administrative burdens and expenses remain as businesses grapple with how to comply with the reporting requirements contained in the statute.”

Are you ready for ACA

Fortunately, companies like AmeriFlex help businesses become “technology ready” for the upcoming changes. Most small to midsized companies do not have a full-time employee who spends his day researching the tax implications of the ACA, so it is not only helpful, but probably imperative, that SMB owners identify and invest in a solution that integrates payroll, time, labor, and HR/benefits administration while enabling real-time, ACA-compliant reporting. Spreadsheets, homegrown reports, and manual calculations will do little to simplify a highly complex process that has potentially significant financial consequences. Are you “technology ready” for the ACA? If you do not know, now is the time to contact us for a free consultation. An investment ensuring technology readiness for the ACA can dramatically reduce costs and administrative burden while allowing small to medium sized business owners freedom to focus more time, energy, and resources on what they do best – serve customers!

Tags: ACA, technology ready for ACA, AmeriFlex, Affordable Care Act technology

New W-2 Reporting Requirement for Employers under ACA Starts in 2012

Posted by Meredith Gooch on Fri, Jan 13, 2012

As part of the Affordable Care Act (ACA), employers are required to report the cost of health benefits coverage under an employer-sponsored group health plan. This applies to both self-funded (ASO) and fully insured employer groups.

Originally slated to start with the 2011 tax year, the Internal Revenue Service (IRS) determined in the fall of 2010 that employers needed additional time to update their payroll systems, so it made reporting optional for the 2011 tax year. Reporting will be required starting with the 2012 tax year, for which reporting begins in January 2013. For small groups (employers that issue fewer than 250 W-2 forms), however, reporting will continue to be optional for the 2012 tax year and will only become mandatory for the 2013 tax year (for which reporting begins January 2014).

Beginning in January, employers are required to track the total cost of health care coverage for tax year 2012. This information will be reported to the IRS on employee W-2 forms that will be issued in early 2013. This reporting is for informational purposes only and does not affect an employee’s tax liability.

If you have any questions specific to Sage ERP Accpac, please contact Kevin Yu.

Tags: sage erp accpac, ACA, New W-2 Requirements 2012