ppaca reporting: 2020 edition!
When and Where: KSB will host its annual PPACA 1094-C and 1095-C reporting workshop from 9:00 a.m. to 12:00 p.m. on Tuesday, December 15, 2020. The cost will be $250/school. The webinar will be conducted via Zoom, and all participants will be able to ask questions during and after the presentation over Zoom. All registrants will receive a copy of the slides and materials used in the webinar.
Wait, I thought the Supreme Court was going to rule on PPACA. Do we REALLY have to report again this year? Sigh. Yes. It is true that the U.S. Supreme Court heard oral arguments in a case challenging the constitutionality of PPACA, but for two reasons that probably won’t affect your reporting obligations this time around. First, the Supreme Court is unlikely to rule on the law until May or June, after the 2020 reporting is completed. Second, the reporting you’ll be doing in the coming weeks applies to the 2020 calendar year. Even if the Supreme Court strikes down PPACA (some or all of it), most likely it will be prospective. Plus, we doubt the federal government will want to give up any PPACA penalties its owed by employers for 2020...
What We'll Cover: Whether you're a new business official or someone who has been doing the reporting for years, you know PPACA can seem like a foreign language, especially all of the reporting obligations! Beginning in December 2015, we have conducted an annual PPACA reporting workshop to bring you up to speed or introduce you to these requirements. If the words "1095-C" and "lines 14, 15, and 16" don't ring a bell, you're either new or have tried to forget it since last year.
We'll start out by giving a quick update on developments in PPACA compliance and enforcement, including the Supreme Court case. We'll then do a refresher on the IRS's enforcement efforts. We continue to work with schools that have received a "Proposed ESRP Notice," which is the IRS's fancy way of saying "tax penalty" for prior years.
The bulk of the presentation will be similar to past years, where we dig back into the PPACA reporting requirements, forms, and deadlines. We'll go through the forms (1094-C and 1095-C) line-by-line and explain the various codes and data entries you’ll need to include to ensure your reporting is accurate. Even if your software company runs these reports for you, you will have to know and understand the reporting obligations and double check the forms for accuracy. Remember, these forms are what the IRS uses to determine your compliance with PPACA!
Finally, we'll go through examples using the forms for the most common and trickiest employees in terms of reporting, and like every year we'll do a "You Call It" at the end where we can go through specific employee reporting hypotheticals if you have questions.
Registration:
Please fill out the form below to register. All webinar fees will appear on your regular monthly bill. If you are not a KSB client and would like to participate in the webinar, please contact Shari Russell at shari@ksbschoollaw.com.