Payroll News & Alerts
To assist our clients in staying in compliance with new Federal and State laws as they are issued, we have assembled the following reference materials and helpful links where you can find details directly from the IRS and state agencies as well as third party sources.
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Effective July 1st, 2015
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Employers with 11 or more employees must begin to provide up to 40 hours of "paid" sick leave per year.
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Employers with 10 or less employees must begin to provide up to 40 hours of sick leave per year but may provide it on an "unpaid" basis.
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Under the new law, employees earn/accrue one hour of sick time for every 30 hours' worked (including overtime hours) up to 40 hours. This law applies to all companies with one or more employees, whether full time, part time, seasonal, as well as exempt employees, (salaried employees will be based on regular hours worked). Employees will begin to accrue sick leave on July 1,2015 or on their hire date, whichever is later.
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Employers must post a multilingual notice about the new sick leave law and provide copies to employees. The MA State Attorney General's office states they will prepare this notice prior to the effective date.
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Update: Posted May 17, 2015 on www.mass.gov/ago. Transition year: Safe Harbor for Employers with Existing Paid Time off Policies. Please visit the "Recent News" tab on the above site for latest updates from Maura Healey, Attorney General.
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Update: Posted June 11th, 2015 www.mass.gov/ago/earnedsicktime
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Notice of Employee Rights was finalized by the MA Attorney General.
ACA Employer Mandate for 2015
How Eagle Payroll can Help
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For tax year 2015 there is required reporting to the IRS, (forms 1095c and 1094c), which will be due in 2016. Our software is currently being updated to provide and file these reports on your behalf. Some of the required information is not payroll related and does not reside in our data files, thus we will require additional information from you.
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On three occasions in 2014, Eagle provided ACA reports to all clients with 25 or more full time employees. For additional copies of these reports or for reports covering a different 6 month time period please contact our office.
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Because of the complexities involved in gathering the information needed from various sources to accurately accomplish reporting requirements, we suggest you begin to familiarize yourself with the process now.
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Eagle Payroll Service will continue to provide you with valuable information as it becomes available.
Questions?
ACA Employer Mandate for 2015
Click Here for Printable Guide
THE BASICS:
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The employer mandate requires all employers with 50 or more full time equivalent employees to offer a certain level of health insurance coverage at an affordable cost to all full time employees.
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Effective in calendar year 2015 employers with 100 or more full-time or full time equivalent employees will be subject to the employer shared responsibility provisions. Large employers (100 or more employees) that do not offer adequate, affordable coverage to their full-time employees may have to make a shared responsibility payment.
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Employers with between 50-99 full-time and full time equivalent employees have an additional year of reprieve from penalties.
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Employers with less than 50 full-time or full-time equivalent employees (for 2015) will not be penalized for failing to offer health insurance.
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The law defines a full-time employee as one working regular hours of 30 or more hours per week. Part time workers hours are included in the calculation.
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For 2015 there is a transitional relief in place that allows an employer to use any consecutive six month period from 2014 to calculate full-time equivalent employees for 2015.