The end of the year is almost here and we know that there are a lot of year-end processes for you to take care of. CMS is here to help you be proactive in preparing for your 2016 ACA filing.
Here’s what you need to know:
- 1095-C’s due to the employee by January 31st, 2017
- 1094-C & 1095-C’s due to the IRS February 28th, 2017 for paper filing or March 31st, 2017 for e-filing
- Names for employees and ALL dependents must be entered into HRMS as it appears on their Social
- Security Card. Must include middle initial and/or suffix when applicable
- Utilize the Social Security Number Verification System ( SSNVS) to verify all
- Employees – New Hires, Transfers, Acquired, PT to FT benefit eligible
- Dependents – Spouses, Domestic Partners, Children
- Verify all dates are entered into HRMS correctly – Eligibility, Hire, Term, Effective, and Employee Status changes
- Prepare a list of all new hires, terminated employees, employees with life events and anyone who is newly eligible/ineligible for benefits to coordinate appropriate codes for the 1095-C’s
Lower Standard Mileage Rate for Business Deductions Announced for 2017
IRS sets standard mileage rates for business activities of 53.5 cents per mile effective January 1, 2017.
Revised Form I-9 Now Available
On Nov. 14, USCIS released a revised version of Form I-9, Employment Eligibility Verification. Employers may continue using Form I-9 with a revision date of 03/08/2013 N. through January 21, 2017. By January 22, 2017, employers must use the revised form. Employers should continue to follow existing storage and retentions rules for all of
their previously completed Forms I-9. Read the USCIS News Release, and visit I-9 Central for more information.
E-Verify Records Disposal
In April 2017, USCIS must dispose of E-Verify transaction records that are over 10 years old. We have created a Historic Records Report that contains transaction records dated on or before December 31, 2006, which E-Verify employers may download from now through March 31, 2017. For more information on the Historic Records Report see the Fact Sheet (PDF, 69 KB) and instructions (PDF, 271 KB) to download the report.
Ensure Compliance with Existing Overtime Rule
Now that new overtime rule is blocked, make sure you’ve satisfied the duties requirements for exempt workers.
The Department of Labor’s (DOL’s) new overtime rule, projected to make roughly 4.2 million currently exempt employees eligible for overtime pay, faces an uncertain future. A federal court stayed the rule less than two weeks before its Dec. 1 implementation date, leaving businesses that had been readying to comply with the higher exempt salary threshold in a holding pattern. Meanwhile, the Obama administration has filed an appeal, but legal experts are expressing doubt about its likelihood of success.
EEOC to Collect Summary Pay Data
The U.S. Equal Employment Opportunity Commission (EEOC) today announced that starting March 2018, it will collect summary employee pay data from certain employers. The new data will improve investigations of possible pay discrimination, which remains a contributing factor to persistent wage gaps. The summary pay data will be added to the annual Employer Information Report or EEO-1 report that is coordinated by the EEOC and the Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP). OFCCP collects data from federal contractors and subcontractors.
Join us on a webinar for a quick overview of these changing regulations:
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