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        Importance of Small Business Tax Planning

        WHY IS TAX PLANNING FOR SMALL BUSINESSES SO IMPORTANT? Simple! Reduce the Read More...

        Posted on July 12, 2016
        Common Mistakes Small Business Owners Should Avoid

        Running a small business isn’t easy. For many owners, you’re the chief, Read More...

        Posted on June 27, 2016
        Summertime Tax Tips

        Summer is a great time to start tax planning even though it’s Read More...

        Posted on June 15, 2016
        The Small Business Healthcare Tax Credit: Find Out if You’re Eligible

        If you are a small employer, you may not know about the small Read More...

        Posted on May 25, 2016
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Granite PayrollGranite Payroll
  • Contact
  • About Us
  • Services
    • Payroll Services
    • Employee Self Service
    • Tax Services
    • 401k Administration
    • Time and Attendance
    • HR411 Complete
    • Workers’ Compensation
  • Resources
  • Calendar
  • Blog +
    • Latest News

        Importance of Small Business Tax Planning

        WHY IS TAX PLANNING FOR SMALL BUSINESSES SO IMPORTANT? Simple! Reduce the Read More...

        Posted on July 12, 2016
        Common Mistakes Small Business Owners Should Avoid

        Running a small business isn’t easy. For many owners, you’re the chief, Read More...

        Posted on June 27, 2016
        Summertime Tax Tips

        Summer is a great time to start tax planning even though it’s Read More...

        Posted on June 15, 2016
        The Small Business Healthcare Tax Credit: Find Out if You’re Eligible

        If you are a small employer, you may not know about the small Read More...

        Posted on May 25, 2016
01 Oct

New IRS Resource Helps Employers Understand the Health Care Law

New IRS Resource Helps Employers Understand the Health Care LawThe new ACA Information Center for Applicable Large Employers page on IRS.gov features information and resources for employers of all sizes on how the health care law may affect them if they fit the definition of an applicable large employer.

The web page includes the following sections:

  • What’s Trending for ALEs,
  • How to Determine if You are an ALE,
  • Resources for Applicable Large Employers, and
  • Outreach Materials.

Visitors to the new page will find links to:

  • Detailed information about tax provisions including information reporting requirements for employers,
  • Questions and answers, and
  • Forms, instructions, publications, health care tax tips, flyers and videos.

Although the vast majority of employers will not be affected, you should determine if you are an applicable large employer. If you averaged at least 50 full-time employees, including full-time equivalent employees, during 2014, you are most likely an ALE for 2015. If you have fewer than 50 full-time employees, you may be considered an applicable large employer if you share a common ownership with other employers. As an applicable large employer, you should be taking steps now to prepare for the coming filing season.

In 2016, applicable large employers must file an annual information return – and provide a statement to each full-time employee – reporting whether they offered health insurance, and if so, what insurance they offered their employees.

If you will file 250 or more information returns for 2015, you must file the returns electronically through the ACA Information Reports system. You should review draft Publication 5165, Guide for Electronically Filing Affordable Care Act (ACA) Information Returns, now for information on the communication procedures, transmission formats, business rules and validation procedures for returns that you must transmit in 2016.

Source: IRS.gov

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Recent Posts

  • Importance of Small Business Tax Planning
  • Common Mistakes Small Business Owners Should Avoid
  • Summertime Tax Tips
  • The Small Business Healthcare Tax Credit: Find Out if You’re Eligible
  • Sales Tax – The Necessary Evil in the Daily Life of Business Owners

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  • Importance of Small Business Tax Planning
  • Common Mistakes Small Business Owners Should Avoid
  • Summertime Tax Tips
  • The Small Business Healthcare Tax Credit: Find Out if You’re Eligible
  • Sales Tax – The Necessary Evil in the Daily Life of Business Owners

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