American founding father, Benjamin Franklin, had some timeless advice for people facing big deadlines: “You may delay, but time will not.” Fast forward from the 18th century to the present and his words still ring true – especially if you are an employer who is coming face-to-face with Affordable Care Act (ACA) Annual Reporting Requirements.
The ACA compliance clock keeps ticking and time is running out. Why? Under the Shared Responsibility mandate, data recording (payroll, benefits, time & labor) needs to be done in 2015 (now!) for IRS and employee reporting in early 2016.
Despite the fact that employers could be subject to dramatic financial penalties for failure to comply with the Shared Responsibility mandate of the Affordable Care Act (ACA), new ADP research suggests most are unprepared.
If your business or your job is impacted by the Affordable Care Act (ACA), chances are you have many questions if not concerns. To help you and other employers navigate ACA compliance, ADP has released a new guide that sheds light on the employer mandate and potential financial risks for non-compliance.