Final Forms and Instructions for 2020 ACA Reporting Released
The Internal Revenue Service (IRS) released final 2020 forms and instructions for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.
These forms and instructions include a number of changes and clarifications related to 2020 reporting.
Changes were also made to Forms 1095-B and 1095-C related to offers of individual coverage health reimbursement arrangements (ICHRAs).
Employers should become familiar with these forms and instructions for reporting for the 2020 calendar year. Individual statements must be furnished by March 2, 2021, and IRS returns must be filed by Feb. 28, 2021 (March 31, 2021, if filed electronically).
Preventing Remote Work Time Theft
Time theft in the workplace is a common and expensive problem across industries. And, if not addressed, it can cost employers time, money and customers. In fact, the American Payroll Association found that 75% of businesses in the United States are affected by time theft every year. Another study estimates that time theft costs U.S. employers more than $400 billion per year in lost productivity.
When employees are working remotely, it’s harder to detect and prevent all types of fraud. Time theft leads to lower productivity, which in turn leads to financial losses for the organization. Fortunately, there are steps that organizations can take to mitigate the risk of workplace time theft. Consider the following strategies:
Time theft is a nearly silent form of fraud that can happen to any organization. It’s important for employers to be aware of how it happens and take the necessary steps to prevent it, especially with remote workers. A combination of clear guidelines, tools and employee support can help companies lower their risk of time theft. Trust employees to do the right thing and keep them engaged to reduce the company’s overall risk.
OSHA Clarifies COVID-19 Reporting Requirements
The Occupational Safety and Health Administration (OSHA) has published two additional answers to its list of COVID-19 frequently asked questions (FAQs). The new answers clarify when employers must report COVID-19 in-patient hospitalizations and fatalities.
OSHA requires employers to report in-patient hospitalizations only if the hospitalization occurs within 24 hours of an exposure to COVID-19 in the workplace. As a result, employers must report COVID-19 hospitalizations only if the hospitalizations are:
The report must be submitted within 24 hours of the time the employer determines there was an in-patient hospitalization caused by a COVID-19 case. Hospitalization for diagnostic testing or observation only is not “in-patient” hospitalization.
OSHA requires employers to report fatalities that occur within 30 days of an exposure to COVID-19 in the workplace. Employers must submit fatality reports within eight hours of learning that the fatality took place and that it was due to a work-related exposure.
These FAQs address only reporting requirements for COVID-19. Employers can review their COVID-19 recording requirements on OSHA’s website.
Preventing Sexual Harassment in the Workplace
Despite decades of attention in the media and courts, sexual harassment remains a significant and costly problem in today's business environment. Learn how to prevent sexual harassment in your workplace by watching this video >>>.
The content herein is provided for general information purposes only, and does not constitute legal, tax, or other advice or opinions on any matters. This information has been taken from sources which we believe to be reliable, but there is no guarantee as to its accuracy.
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November 2020: Stay Informed of the Latest HR News
02.11.20 03:33 PM