By: Darrell Scott
The Affordable Care Act (ACA) has reporting requirements beginning in Tax Year 2015 that you must be ready for BEFORE you run your first payroll in 2015.
If your company isnot big enough to have to comply with the new reporting, you can skip the rest of this post…BUT please make sure you do not meet the requirements before you stop reading. You can get information on what employers are subject to the ACA Shared Responsibility Provisions at an IRS website, here . The simple answer is if you have 50 or more FTEs, you are subject to these provisions. The criteria is more complicated than that, so review the rules and determine for yourself if you meet the criteria.
Another complication…the IRS has not issued final regulations/forms on the ACA reporting requirements.
Sage will release product updates for Payroll in March or April 2015 after the regs are published.
There are two things YOU MUST DO if you are using SAGE 100 ERP payroll (or MAS 90 or MAS 200 payroll) so that these updates will work when they are released.
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