How Independent Contractors Factor Into Your Affordable Care Act Compliance
Align with IRS guidelines
HR will need to evaluate how your company’s full-time independent contractors and workers from staffing agencies line up with the IRS’ guidelines. Generally, the IRS considers individuals to be common law employees if your company is authorized to direct and control the way they perform their services. However, it isn’t that simple. The Internal Revenue Manual lists many factors that should be used to identify common law employees and related considerations.
The IRS estimates that employers misclassify millions of workers as independent contractors instead of employees, thus avoiding the payment of employment taxes, according to the Treasury Inspector General for Tax Administration. The agency has long viewed worker classification as a major contributor to the tax gap and as a result has actively audited employment classification—a trend likely to intensify under the ACA. In addition, the U.S. Department of Labor has entered into alliances to promote enforcement and information-sharing about cases of worker misclassification with the IRS.
Start now
With enough time and resources, the process is manageable, so HR staff should start their analysis now. They need to know how many employees must be offered coverage during the open enrollment period this year to meet the 70% threshold for 2015. Acting now will also help position your company for 2016 and beyond, when the coverage threshold becomes more stringent.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
