The Affordable Care Act look back period starts June 1, 2013. All employers will need to comply with IRS regulations and reporting requirements. Are you ready? Let Time & Pay help you get ready with our automated timekeeping system. Our ATA system is ready to produce the information employers will be required to submit and ensure you are in compliance. If you aren’t ready, the solution is simple.

Here’s why you need to call Time & Pay today:

  • Avoid unnecessary IRS audits, penalties, and tedious administration by using an automated timekeeping system that can conveniently track employee hours and indicate your “Shared Responsibility” status.*Employer note: “Large” employers with over 50 “Full Time Equivalent” (FTE) employees will be required to report six consecutive months of labor records for 2013 to the IRS.
  • Quickly determine your current and ongoing “large employer” classification status. Are you over or under the threshold of 50 Full Time & “Full Time Equivalent” employees? This will determine your IRS and PPACA “Shared Responsibility” exposure.*
  • “Pay,” “Play,” or Qualify for Incentives – Avoid “Shared Responsibility” tax penalties, recognize your large employer status, or perhaps even qualify for tax incentives as a small employer by effectively validating your “Full Time Equivalent” counts.*
  • Validate your status as a small employer (25 FTE’s or less) to qualify for health insurance tax credits (up to 35% in 2013 and 50% in 2014). Also, employers generally under 100 FTE’s will be eligible to shop for better group insurance benefits through public health exchanges.*
  • Be ready by June 1st to track your employee’s hours (by work week or month) to meet potential IRS requirements for a six-month “Look-Back” period.Employer note: Employees over 30-hours per week or 130-hours per month will qualify for employer-sponsored “affordable” health care.*
  • Quickly calculate your count of Full Time Employees, Full Time Equivalents (FTE’s), and Non-Full-Time Employees. View how each employee contributes to your FTE count.
  • Manage employee hours in advance to avoid exposure. Get alerts to determine when part-time employees will cross over 28 hours, 30 hours, or another defined count of hours per week.
  • Management measurement periods. Easily demonstrate hours worked per week by employee over your “Look-Back” and other measurement periods.

Time & Pay’s ATA systems are ready to provide you with the tools you need to track the information and produce the necessary reports to make sure you meet the mandatory requirements of the Affordable Care Act.  Contact us today for more information.