For many HR professionals, quarter four is the busiest time of year. From open enrollment for employee benefits to preparing for tax season—HR has a lot of plates to keep spinning.
To stay organized and get ahead of the rush, there are several 2022 ACA deadlines coming up early in 2023 that you’ll want to start preparing for soon. Read on to learn when these deadlines are, what you need to know, and how to stay compliant as you move toward the end of the year.
If your organization is an ALE, or Applicable Large Employer, the biggest IRS filing deadlines to look out for are the dates surrounding form 1095-C, Employer-Provided Health Insurance Offer and Coverage. Add the following dates to your 2023 calendar now:
You’ll want to start working on these tasks early to make sure you hit both the furnish and file dates relevant to your organization.
There are several details to keep in mind as you plan for the upcoming tax season.
As with many IRS regulations, requirements change frequently, and it’s crucial to remain compliant to avoid sometimes hefty penalties. These penalties include the following for 1095s:
These penalties can add up quickly. For example, if your organization has 150 employees and fails to file their 1095-Cs by the March 30 electronic filing deadline, you could face a penalty of $42,000 for noncompliance.
For more key dates to look for in Q4, download BerniePortal’s free 2022 HR Calendar to help you stay up-to-date and compliant through the end of the year.
You can stay informed, educated, and up-to-date on compliance and other important HR topics using BerniePortal’s comprehensive resources: