The ACA – Pay Attention to These Things to Avoid Penalties

The ACA – Pay Attention to These Things to Avoid Penalties

Soon, midsize business owners will be required to report health coverage plan information to its full-time employees and the IRS. This is because under Section 6056 of the Internal Revenue Code, there is the new Affordable Care Act requirement (ACA). The reports must be filed early in 2016; the Trade Preferences Extension Act of 2015 has stated that companies that failed to file it by the deadline will get a doubled penalty. If you haven’t done it yet, don’t worry; we’ve got you covered. Let’s go over a few things you need to pay attention at to remain compliant with the ACA.




1. Are you required to report?

This is the first thing you have to do, figure out whether you are required to report your 2015 health plan coverage to the IRS or not. The first thing you should do to figure this out, determine whether you are one of the applicable large employer (ALE) or not. To do this, you can check out the ALE Calculation Fact Sheet in the TriNet. This calculation sheet will help you to know if you are an ALE under the ACA guidelines for 2015.

However, in general, a company is considered an ALE if they employed 50 or more full-time employees monthly (full-time equivalent employees included) in the previous year. If you have 50-99 full-time employees who were not subject to the Employer Shared Responsibility “pay or play” provision ACA in 2015, you have to report it. Do not forget all of the requirements in the section 6056 to apply to all ALEs.


ACA filing deadline

2. Be aware of the filing deadline.

Remember, there are deadlines and if you fail to file your reports by the deadline, you will get penalties. If you do not want to get any penalties, then you have to make sure that you aren’t missing any important dates. Do not forget that ALEs have to submit the first Section 6056 form in early 2016, including the group and employee medical plan coverage information. Here are some important dates you don’t want to miss:

– January 31, 2016: This is the deadline for your full-time employees to file their form 1095-C

– March 31, 2016: This is the deadline for the submission of electronic file form 1094-C.

After you file your documents, the IRS will use the information to determine whether an employee is eligible for a premium tax credit, and they will use it to complete the data in ALE with the ACA Employer Shared Responsibility Provision. In addition, the reports are also expected to assist the documenting process of the employees because they have satisfied Individual Shared Responsibility Provision of ACA.


ACA Penalties

3. Penalties you will get if you fail to file your reports.

As stated above, the penalty has been doubled. Companies that failed to meet the filing requirements will have to pay $250 for each incorrect return; before, they only have to pay $100. In addition, they have to pay $500 for each return is there is any violation to intentional disregard. Even though the penalty might be reduced in some circumstances if the reports are corrected within the appointed time, it is better to avoid making mistakes entirely.

Do not forget those penalties could add up quickly. This is because there is a penalty for ‘each’ return. So for example, if you have 70 full-time employees who failed to complete the requirements, you would have to pay around $35,000, which is not cheap at all.


ACA Reporting Requirements

4. Remember the information required.

Fortunately, there is good news. Companies that made great faith effort to complete and submit the forms of 1094-C and 1095-C for 2015 will not get any penalties. You still need to document that you made a good-faith effort to avoid penalties, so you couldn’t ignore the reporting requirements. This is why if your company is an ALE, you should take note of the information required to fill out the form by the deadlines.

If you need any assistance, or if you have any questions about the filing requirements of section 6056, contact the IRS. They will help and answer your questions about how to complete the forms.



The new Affordable Care Act requirement might complicate things a little bit, but it is for the sake of better and more structured system. Figure out whether you are one of the ALEs, be aware of the set deadline, be aware of the penalties and make sure that you know the reporting requirements details. If you pay attention to all of these things, you can definitely avoid getting penalties. For more information, you can visit the Affordable Care Act page on the IRS website.


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How Are Small Businesses Reacting to the Move to the Cloud?

Are Small Businesses Embracing the Move to the Cloud?


Business in the cloud

Business in the cloud

A Massive Market in the Cloud

600 million global small businesses are indeed embracing the move to the cloud. There are 29 million U.S. businesses that can be included in this market. These businesses are eager to have apps. There is a massive market that is running operations in the cloud.

Nielsen Consumer Research

There has been research conducted by Nielsen Consumer that offers many insights. There has also been more research conducted by Intuit Inc. that can show the extent to which the many smaller businesses have already moved right into the cloud.


Nielsen research

Nielsen research

The Research Results

The Nielsen consumer research and the Intuit Inc. research have revealed the following results:

* There is a profitable developer opportunity within the small business market; At this time, the small business owner is spending approximately $630 a year on necessary software solutions. Within the next five years there will be approximately 85 percent of these small businesses who will be willing to invest much more money on exceptional software solutions.

* Financial management is the core of the cloud; The approximate time that a business owner will spend online running their business is four hours every day. These activities online include:
* Generating invoices
* Bookkeeping and accounting
* Accepting payments
* Managing Customer relationships


better business software

better business software

Businesses Need More Solutions

These businesses will need routines or devices that will work smoothly with their existing system. This would be an integration between the solutions. This integration solution would include the mobile solutions. Almost half of these smaller businesses have the smartphone as the main device that runs their operations.

Developers Will Need to Meet Business Needs

The research clearly shows that the developers will need to keep up with the changing business needs. They will need to find methods to creating game-changing apps. The developers will have a large role in helping these small businesses reach their highest potential. This will be done in the cloud. This is a worldwide cloud market that can assist in making the small business more than just thrive.


small business in the cloud

small business in the cloud

Small Businesses are Reaching for Cloud Adoption

The developers will have the chance to completely capture the advantages that are available within small business apps. The number of small businesses who are already adapted to the cloud. There are even more businesses that are moving fast toward the cloud and fully embracing these solutions. This is a fast moving percentage that will be cloud-powered. There will be many more businesses that will reach for cloud adoption.

The Upward Movement for Developers

The QuickBook Online platform has become larger in size and will become even greater in size. This will continue to grow and broaden for the developers. This platform has seen ten times the increase in the past year alone. The total currently has 10,000 working and active developers. This past year the developers provided and offered approximately 80 apps. These all worked with QuickBooks right online. Currently there are well over 1000. This includes 200 that are in the Online apps store. These are in QuickBooks.


software partnerships

software partnerships

Developers can Partner With Intuit

Experienced and recognized developers along with the developers who are starting out, have an exceptional opportunity to broaden offerings. The opportunity to partner with Intuit is available. The open platform and a highly energized Intuit team provides a chance to support these small business across the world. This partnership will ensure that QuickBooks Online application programming will be simple to call. This includes APIs and interfaces.

These Small Businesses Provide Big Opportunities for Developers

It is safe to state that these businesses are looking for apps. This clearly means that the app. developers will have a big need to meet. There is an abundance of big opportunities for every developer. The ever changing needs and the embracing of the move to the cloud leave many opportunities.


Embrace cloud technology

Embrace cloud technology

The Cloud is Embraced

It is clear that the cloud has definitely been embraced by small businesses everywhere and all across the globe. There is much movement and expansion when it comes to the cloud. The developers will need to seize the opportunity and can expect a continuous growth. The excitement of this global small business embrace will only rise upward.

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