Affordable Care Act Reporting in GP

Thoughtware Article Published: Oct 23, 2014
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It’s the last quarter of 2014, and you need to have all the facts about the upcoming Affordable Care Act (ACA) reporting requirements. If you wait until January 1, 2015, to pay attention to these regulations, it will be too late. We can help!

What You Need to Know

As noted by the Department of Health and Human Services and IRS, the ACA requires employers to report detailed information so the IRS can determine their responsibilities. Guidelines in Section 4980(h) define and regulate a “large employer,” while Section 414 determines which persons will be treated as a single employer.

For 2015, large employers will need to capture detailed employee information to comply with the Employer Shared Responsibility provision.

In January 2016, it’s the employer’s duty to report to the IRS month-by-month detail from the previous year—both employee access and contributions to employer-provided health care.

How BKD Can Help You Prepare

Microsoft will include adjustments to the Dynamics GP 2013 and GP 2015 Payroll module to include the capability to generate Forms 1095-C and 1094-C. Microsoft has said it will not add this functionality to GP 2010 and will not be releasing the ACA enhancement for tracking eligibility and affordability.

Let BKD help you prepare. We can examine your organization and offer options that make business sense—whether it’s an upgrade, a report or the addition of a third-party solution to track this new required information. Contact BKD Technologies to learn more.

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