Affordable Care Act Reporting
Firms responsible for payroll processing are also likely to have been impacted by the new Affordable Care Act reporting requirements. While the IRS has issued an extension of the due dates for 2015 ACA reporting, the requirements must still be met.
If you are dealing with the reporting changes mandated by the Affordable Care Act (ACA), it is also likely that you still have some questions. The answers to several of the most common questions were provided by Iris Tilley in her article “IRS Releases Final 2015 ACA Reporting Forms and Instructions”.
To comply with these filing requirements, Intersoft has implemented a number of changes to the INTERAC Payroll system.
- New fields added to the employee master file record to store all of the information that is required on the 1095 forms.
- Information can be added manually into the employee record using the Master File Maintenance program.
- Information can also be imported into the employee’s record from an Excel or CVS file using Interlink Master Import.
- Year end 1094 and 1095 forms will be produced through the Complete Laser Forms software. Pre-printed forms will not be supported.
Compiling Employee’s Data
To simplify the initial setup, spreadsheet templates may be used to import both the employee’s information and the covered individuals (dependents) information. For your convenience, Intersoft has made sample templates and instructions available for download. Contact Intersoft Systems support to request a copy.
Laser 1094 and 1095 Forms
INTERAC Payroll will generate the forms as part of the Laser Forms package. If you currently license that product the required forms are included. To add the Laser Forms Package to your INTERAC system, complete and submit your order.
