Employers subject to the Affordable Care Act’s (ACA) information reporting requirements are reminded that the deadline to furnish Forms 1095-B and 1095-C are quickly approaching. The reporting deadlines in 2018 are for reporting information on the 2017 calendar year, and are as follows:
Applicable large employers (ALEs)—generally those with 50 or more full-time employees, including full-time equivalents—must furnish a Form 1095-C to all full-time employees by March 2, 2018.
Self-insuring employers that are not considered ALEs, and other parties that provide minimum essential coverage, must furnish a Form 1095-B to responsible individuals (which may be the primary insured, employee, former employee, or other related person named on the application) by March 2, 2018.
For more on employer information reporting requirements, check out our comprehensive section on Information Reporting.
EEOC Releases Guidance on Workplace Harassment Prevention
The U.S. Equal Employment Opportunity Commission recently issued Promising Practices for Preventing Harassment, a guidance document that contains harassment prevention recommendations for employers in four broad categories:
Leadership and accountability;
Harassment policies;
Harassment complaint systems; and
Harassment training.
For each category, the guidance lists numerous actions employers can take. Recommended actions include, for example:
Allocating sufficient resources for effective harassment prevention strategies;
Crafting an unequivocal statement that harassment based on, at a minimum, any legally protected characteristic, is prohibited; and
Conducting regular, interactive, and comprehensive harassment prevention training for all employees.
The document states that while the practices it discusses are not legal requirements under federal employment discrimination laws, they may enhance compliance efforts.
For more information on compliance issues concerning discrimination in the workplace, please visit our Discrimination section.
IRS Announces 2018 Standard Mileage Rates
The Internal Revenue Service (IRS) has issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, or medical purposes.
2018 Standard Mileage Rates
Beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup, or panel truck will be:
54.5 cents per mile for all business miles driven (up 1 cent from 2017)
18 cents per mile driven for medical purposes (up 1 cent from 2017)
14 cents per mile driven in service of charitable organizations (unchanged from 2017)
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
IRS Notice 2018-03 contains additional information about mileage rates.
For more on employer-provided transportation benefits, please see our section on Fringe Benefits.
Small Business Health Care Tax Credit Form Released
The IRS has released Form 8941, Credit for Small Employer Health Insurance Premiums, and related instructions, for tax year 2017. Eligible small employers use this form to figure the credit for health insurance premiums under the Small Business Health Care Tax Credit.
The Small Business Health Care Tax Credit is designed to encourage small businesses and tax-exempt employers to offer health insurance coverage to their employees. Among other requirements, an employer may be eligible for the credit for tax year 2017 if:
It had fewer than 25 full-time equivalent employees for the tax year;
It paid at least 50% of the premium cost for single health care coverage for each employee;
The average annual wages of its employees for the year were less than $53,000; and
It paid premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program (SHOP) Marketplace (or qualifies for an exception to this requirement).
Note: Employers in Hawaii cannot claim this credit for insurance premiums paid for health plan years beginning after 2016.
Click here to review Form 8941 and its instructions.
With a new year upon us, your attention is likely focused on setting financial and productivity goals for your business. As you plan, make sure to look at one area you may have overlooked: employee retention. Employee retention has a huge impact on your bottom line, and now is a great time to make some employee retention resolutions that will pay off all year long. Watch the video below to learn 10 key employee retention resolutions for 2018.
For more on employee retention, check out our Human Resources section.
