• Are You Confident Your Clients Are Prepared for the ACA?

• U.S. Department of Labor Proposes Higher Overtime Threshold

• Help Your Franchise and Non-Profit Clients Manage Confidently

• Upcoming Webinars

• Important Dates

Want to learn more? Contact your local Paycor rep or visit paycor.com/cpacare.

IN THIS ISSUE:

Fall 2015

CPA Care Newsletter

You’ve heard about the Affordable Care Act (ACA) all year long, but what does it mean for you and your clients? The IRS reporting requirements are significant for impacted employers.

• Employers with 50 or more full-time equivalent employees (FTEs) are subject to ACA IRS reporting requirements for 2015.

• Employers need to act now in order to comply with the February filing deadline or risk heavy fines by the IRS.

Employers with more than 50 FTEs need to tell the IRS three things:

• Whether they made an offer of health care coverage to full-time employees and their family members and when the offer was made.

• Whether the health care coverage they offered was affordable.

• Whether employees were enrolled in the offered health care coverage.

What happens if employers don’t file?The high cost of noncompliance continues to rise. The general penalty for failure to file a required information return with the IRS recently increased from $100 per return to $250 per return. The cap on the total amount of penalties for such failures during a calendar year increased from $1.5 million to $3 million. If filing failure occurs from intentional noncompliance, then the $250 penalty is doubled to $500 and there is no cap on the total penalty amount.

(continued on page 2)

Are You Confident Your Clients Are Prepared for the ACA?Deadlines Are Approaching Fast.

The maximum fine employers face.

$3,000,000 OVER 50%of employers have yet to identify a solution.

The content in this newsletter is provided for educational

purposes only and should not be considered legal advice.

There is some relief in 2015 for employers with 50 to 100 FTEs: no penalties will be imposed as long as the filing entity makes a good faith effort to comply with the ACA. However, “good faith effort” only applies to the information on the forms, not the date on which they are filed. In other words: all forms must still be submitted by the filing deadline.

What should you be asking your clients now?• Do they have an ACA management tool?

• Do they know their plan for complying with the ACA?

• Do they have appropriate reporting and tracking methods in place?

• Do they understand their role within the ACA reporting process?

What should you be advising your clients to do?

• Attend one of Paycor’s ACA webinars. Register at paycor.com/webinars.

• Sign up now for Paycor’s ACA IRS Filing Solution.

• Print IRS forms 1094-C and 1095-C so they know what employee data will be needed.

• Visit www.paycor.com/aca for form links, webinars and ACA resources.

Help Your Franchise and Non-Profit Clients Manage ConfidentlyDoes your firm focus on franchise and non-profit clients? Paycor has resources to meet the unique needs of these organizations.

FranchisesConsistency is the key to compliance for franchise businesses. Owners risk legal and financial consequences if their partners and managers aren’t adhering to policies and system standards.

Paycor reduces this risk by:

• Establishing a centralized method for managing HR, payroll and time and attendance.

• Creating one source of accurate data that provides big-picture views and granular details.

• Ensuring consistent processes that maximize resources and efficiency to drive profitability.

For more information about Paycor’s products and services for franchises, visit paycor.com/franchise-solutions.

Non-ProfitsNon-profit organizations employ a variety of workers, including full-time, part-time, paid and unpaid. This means non-profit clients have to accurately record hours worked and other people data to ensure compliance with legislation and tax regulations, plus make sure their employees are engaged with the mission.

Paycor helps your non-profit clients stay on top of employee engagement and compliance by offering:

• Tools for training administration, document archiving and employee communication through a secure portal.

• An HR Support Center that includes performance reviews, job descriptions and other useful documentaion.

• Custom reporting for HR and organizational leaders.

• Time and attendance tools that allow your clients to view and change schedules and generate custom reports.

Paycor provides you with insights into client activities by offering real-time alerts for employee changes like new hires and terminations. Plus, our CPA Care services ensure you have a point of contact for tax questions and custom reporting.

For more information on Paycor’s products and services for non-profits, visit paycor.com/non-profit-partners.

Have a tax question about your client’s business? CPA Care is extending hours this fall to help you!

October 14th until 8:00 PM

October 15th until 8:00 PM

Email CPA Care at cpacare@paycor.com

A much anticipated Labor Department rule on overtime exemptions was proposed on June 30. Highlights of the potential changes include:

• Standard salary threshold for overtime exemptions could increase to $50,440 per year or $970 per week (the current threshold is only $455 per week).

• Total annual compensation required to exempt certain higher compensated employees could increase to $122,148 annually from $100,000.

• New rule could offer overtime protections to nearly 5 million workers within the first year.

The Office of Management and Budget has reviewed the proposal of the new rule, but it has yet to be published in the Federal Register. Paycor will continue to monitor this issue and will support our clients and partners with the solutions needed to manage these new requirements.

Source: Bloomberg BNA

Important Dates

September

7 Labor Day. Paycor closed.

10 Employees who work for tips: If you receive $20 or more in tips during August, report them to your employer.

15 2014 tax returns due for corporations who filed a six-month extension.

October

12 Columbus Day. Paycor open.

13 Employees who work for tips: If you received $20 or more in tips during September, report them to your employer.

15 2014 tax returns due for individuals who filed a six-month extension.

15 2014 tax returns due for partnerships given a six-month extension.

November

4 Paycor's Web Summit

10 Employees who work for tips: If you receive $20 or more in tips during October, report them to your employer.

11 Veterans' Day. Paycor open.

26 & 27 Thanksgiving and day after Thanksgiving. Paycor closed.

Did You Hear? U.S. Department of Labor Proposes Higher Overtime Threshold

Have a Client Referral?

Could your clients benefit from Paycor’s HR and payroll solutions? Let us know at go.paycor.com/cpa-referral.

We are presenting several free webinars over the next few months. You and your clients are welcome to join us!

SEPTEMBER

Learn Tips for Smart Business Management with Dedicated HR Support Thursday, September 17, 10:00 a.m. ET

ACA IRS Filing: What's Required? What Do You Need to Do? How Can Paycor Help? Wednesday, September 23, 10:00 a.m. ET

Wage and Hour Law Series Part 2: Preparing for the Department of Labor Overtime Exemption Changes, a Paycor Case Study Thursday, September 24, 10:00 a.m. ET

ACA Impact Series Part 2: How Does the ACA Impact Your Employee Communications? Thursday, September 24, 2:00 p.m. ET

OCTOBERUsing an Onboading Solution to Get the Most Out of New Hires Thursday, October 1, 10:00 a.m. ET

See How to Find and Recruit the Best Talent with an Applicant Tracking Solution Thursday, October 1, 2:00 p.m. ET

Learn to Make Your Data Work for You with a Reporting and Analytics Solution Thursday, October 8, 10:00 a.m. ET

Streamline Human Resource Administration with an HRIS Thursday, October 8, 2:00 p.m. ET

Fall 2015 Upcoming Webinars

Save Time and Money with an Integrated Time Solution Thursday, October 22, 10:00 a.m. ET

Smart and Accurate Labor Management with an Intuitive Time and Attendance Solution Thursday, October 22, 2:00 p.m. ET

Onboarding: Actionable Tips to Create a Memorable Start Thursday, October 29, 2:00 p.m. ET

NOVEMBER

Paycor's Web Summit Wednesday, November 4

Register for one of the webinars above, or see a complete list of upcoming and on-demand webinars at paycor.com/webinars.