“You may delay, but time will not,” Ben Franklin once said. For some employers who have procrastinated, ignored, or somehow believed the Affordable Care Act (ACA) shared responsibility and reporting provisions don’t apply to them, time is up. I would like to say this is a final wake-up call but, unfortunately, the snooze button has been disabled. For some companies, a rude awakening is merely two months away.
I feel confident the “I wasn’t aware” or “the dog ate my homework” excuses aren’t going to fly next year when the IRS finds out you 1) are a large employer subject to “pay or play,” 2) haven’t been classifying full-time employees using one of the approved measurement methods or 3) haven’t been, or are unable... [ MORE ]