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ACA UPDATE: FORMS 1095 AND 1094 REPORTING - ARE YOU READY?
Beginning in January 2016, employers with more than 50 full time equivalents (FTEs) in the immediate proceeding calendar year will be required to prepare and provide their employees a Form 1095-C. This NEW form will serve as the documentation required to demonstrate the "offer" of health care coverage and the enrollment in qualified coverage for their employees. An additional transmittal, Form 1094, will need to be prepared to accompany the secondary copies of Form 1095 that will also be mailed to the IRS.
Those employers with "self-insured" type health care plans, the threshold for reporting is even lower. If there is only ONE employee covered under a self-insured health plan, the plan WILL be required to issue Form 1095 to report the enrollment in a qualified health plan during the 2015 calendar year. The timing and transmission of these new forms are similar to that of an employer's W-2 and W-3 forms. The reporting period is based on a calendar year end, regardless of the fiscal year of the company or health plan year end. Hence, most employers are reaching out to their current payroll providers or payroll software vendors for assistance in the printing and mailing of these forms. If you have not already contacted your payroll provider, we strongly recommend connecting with them immediately. For assistance with the implementation of the many provisions of the Affordable Care Act, contact your professional at UHY LLP in Detroit 313 964 1040, Farmington Hills 248 355 1040 or Sterling Heights 586 254 1040, or visit us on the web at www.uhy-us.com.
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EVENTS CALENDAR
12/2 UHY LLP ANNUAL ACCOUNTING AND BUSINESS CONFERENCE
Join us at the MSU Management Education Center for this year's Accounting and Business Conference, featuring keynote Mary Kramer of Crain's Detroit Business. The schedule of events is as follows: 8:00AM-8:20AM Registration, breakfast and networking 8:20AM-8:30AM Opening commentary 8:30AM-10:00AM SEC accounting and legal update 10:00AM-10:15AM Refreshment break 10:15AM-11:15AM Currency risk management 11:15AM-12:00PM Detroit Homecoming 12:00PM-1:00PM Complimentary lunch 1:00PM-2:00PM Cyber security and cloud computing, the digital revolution 2:00PM-2:45PM Corporate advisory boards to gain access to experience and expertise 2:45PM-3:00PM Refreshment break 3:00PM-4:00PM Attracting and retaining talent 4:00PM-6:00PM Cocktail reception CPE credit will be offered. Pre-registration for this complimentary event is required. Breakfast, lunch and cocktail reception with hors d'oeuvres included. Space is limited. Multiple registrations are welcome. To RSVP contact Jessica Dalessandro.
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SPECIAL ANNOUNCEMENTS
MICHIGAN PRACTICE MEMBERS JOIN UHY ADVISORS' BOARD OF DIRECTORS
UHY Advisors announced new board members from its Michigan practice, Thomas Callan and Steven McCarty. Both are well known in the local business community, been with the firm for over 20 years, and alumni of Walsh College. Callan and McCarty will join five others, including the firm's CEO, Anthony Frabotta, who is also a Michigan resident. Frabotta has been with the firm since 1974 and on the board of directors and executive committee since 2000, serves as a member of the board of trustees and treasurer for DMC Legacy, and is a graduate of Wayne State University. Click here to view full press release.  HAROLD BURNS, PARTNER OF UHY LLP, IS ST. CLAIR COUNTY COMMUNITY COLLEGE'S DISTINGUISHED ALUMNUS OF THE YEARHarold Burns, a partner of UHY LLP's Michigan practice, has been selected as the 2015 Distinguished Alumnus of the Year by St. Clair County Community College. With over 25 years of experience in public accounting, Harold has acquired a broad range of audit and business consulting knowledge. He is a leader of the firm's audit and assurance and ERISA audit practices. He is also the chairperson for the firm's national health care practice. Harold's civic involvement includes board member of McLaren Macomb Healthcare Foundation, SC4 Foundation and Canterbury-on-the-Lake Senior Living Retirement Community. He is a former board member of Memphis Community Schools, with 17 years of experience, last 13 years as board president. He was honored at the SC4 Foundation's Red Carpet Affair on November 7. Congratulations, Harold!
CAREERS AT UHY
Are you ready to take charge of your career path? Be sure to visit our careers page for the most up-to-date listings or contact Yolanda Rountree. Current opportunities in our Michigan offices include: - Audit Manager, 7+ years of experience, manufacturing experience is highly preferred
- Audit Manager, 7+ years of experience, SEC experience is highly preferred
- Audit Senior Accountant, 5-7 years of experience, CPA required
- Internal Audit Risk & Compliance Manager, 7+ years of experience
- R&D Tax Specialist, 7+ years of experience
- Tax Manager, 7-10 years of experience
- Tax Senior Consultant, 4-5 years of experience, Big 4 experience is required
- Tax Senior Accountant, 5-7 years of experience, CPA required
- Director of Litigation, testifying experience required municipalities
- Senior Associate (Corporate Finance), 2-4 years of Big 4 experience highly preferred
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Published by UHY LLP News.
Copyright � 2013 UHY LLP. All rights reserved.
Our firm provides the information in this newsletter as tax information and general business or economic information or analysis for educational purposes, and none of the information contained herein is intended to serve as a solicitation of any service or product. This information does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisors. Before making any decision or taking any action, you should consult a professional advisor who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of "UHY Advisors." UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. and UHY LLP are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. "UHY" is the brand name for the UHY international network. Any services described herein are provided by UHY Advisors and/or UHY LLP (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.
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