Local Experts Explain Affordable Care Act (ACA) Reporting to Large Employers
Under the Affordable Care Act (ACA) also known as Obamacare, large employers, those who have the equivalent of 50 or more full-time employees in 2014, have a new set of tax information reporting obligations they must submit to the IRS. They must report coverage offerings to their eligible employees and employees’ dependents on a form 1095-C. It is important for businesses to take action to understand these new rules and avoid penalties.
To help large employers understand the requirements the Health Care Reform experts from Ketel Thorstenson, LLP are offering a workshop. This workshop will help area businesses navigate their way through the regulations and new draft forms. It will conclude with a question and answer session.
“Employers will have to assemble a variety of information in order to properly prepare the new forms that come with the insurance portion of the mandate. There are reporting requirements that are effective for 2015. We want to help businesses understand what is involved and what needs to be done,” stated Kevin Sickels, CPA, Partner with Ketel Thorstenson, LLP.
“Starting to understand the requirements and collect the information now will make year-end easier,” stated Nina Braun, CPA, CFE, Partner with Ketel Thorstenson, LLP.
The workshop will be held at the Ketel Thorstenson Rapid City office at 810 Quincy on Wednesday, Sept. 16. Attendees can choose the breakfast or lunch session, 8-9 a.m. or noon-1 p.m. The cost is $5 and covers the meal. RSVPs requested by Sept. 10 to 605-716-3284 or [email protected]. Space is limited.
Ketel Thorstenson, LLP, Certified Public Accountants, has been serving clients across South Dakota since 1936. With offices in Rapid City, Spearfish, Custer and the newly added Williston, ND, the firm offers many services including tax planning and return preparation, audit, bookkeeping, payroll, QuickBooks assistance, business valuation and estate planning.