On June 17th, Diversified Group will be hosting a client seminar, entitled What Every Employer Should Know about Their ACA 6055 & 6056 Reporting Requirements. Companies who have yet to establish their reporting strategies should use this seminar to get a clear picture of:
- Who is responsible for reporting?
- What information is reported?
- When are reports required and with what frequency?
- What is needed to prepare for reporting?
It is important to note that ALL employers, regardless of size, are required to report on the type and period of health coverage provided to employees and the IRS – as part of ACA’s Minimum Essential Coverage requirements – IRC § 6055. Applicable large employers have the additional responsibility to deliver a statement to full-time employees and the IRS on the health care coverage offered by the employer – IRC § 6055.
The June 17th seminar will also address the ‘Cadillac Tax’, with covered topics to include:
- What is the Cadillac Tax?
- How does it apply to self-funded plans?
- Who is responsible for reporting and paying the excise tax?
- To what benefits does the excise tax apply?
- What strategies can be used to avoid the tax?
If your company is still on the fence about meeting your reporting obligations under IRC 6055 and 6056, then this seminar could provide you with valuable insights into managing the process and limiting your tax exposure. Click here for more information and to register your attendance.