Reporting Series: Data Requirements
Here is our next ACA Toolkit Topic for our IRS Section 6055/6056 reporting series! Today we are talking data requirements, and how they are not payroll driven.
IRS reporting is complicated, and requires employers to collect month-by-month enrollment data that is nearly impossible to pull from one, single source. It may seem convenient to sign a reporting contract with your payroll vendor, but make sure you know what you are getting into. Payroll vendors are experts in the field of payroll, but may not have the expertise in-house when it comes to compliance and they definitely won’t have all of the required data.
For more information, including a breakdown of what data is required and where you can get it, check out our white paper at: https://bit.ly/2cAVAgX.