Final Forms and Instructions for 2020 ACA Reporting Released

Final Forms and Instructions for 2020 ACA Reporting Released

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2020 ACA Reporting is Due in Early 2021

The IRS has released final 2020 forms and instructions for use in early 2021 to report under IRS Code Sections 6055 and 6056 for the 2020 calendar year. 

  • 2020 Form 1094-B and Form 1095-B (and related instructions) will be used by providers of minimum essential coverage (MEC), including self-insured plan sponsors that are not ALEs, to report under Section 6055.
  • 2020 Form 1094-C and Form 1095-C (and related instructions) will be used by applicable large employers (ALEs) to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans. 
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Upcoming Labor Law Updates You Must Know About

Upcoming Labor Law Updates You Must Know About

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As the year 2020 comes to an end, employers must be mindful of various Labor Law requirements that must be implemented the end of 2020 or beginning of 2021. Here is a list of important updates you must know about and take proper action and implement if applicable to your business.


1. Florida Minimum Wage Rate for 2021. The New Rate Becomes Effective Jan. 1, 2021 

On Nov. 3, 2020, voters in Florida approved a constitutional amendment that will raise the state minimum wage rate each year until it reaches $15 per hour in 2026. Beginning in 2027, the state minimum wage rate will be adjusted annually by Florida’s Department of Economic Opportunity. 

The amendment did not change the tip credit Florida allows employers to deduct from their tipped employees. Since this credit will remain at $3.02, projected minimum wage rates for tipped employees are also included in the table below. 

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President Trump Signed the COVID-19 Relief Package

President Trump Signed COVID-19 Relief Package

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On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 into law. The Act provides temporary special rules for health and dependent care flexible spending accounts (FSAs) that give employees additional time to use these funds.

Because of the COVID-19 pandemic, employees may be more likely to have unused amounts in health or dependent care FSAs. For plan years ending in 2020 and 2021, the Act allows employers to:

  • Permit employees to carry over unused amounts remaining in these FSAs to the next plan year.
  • Extend the grace period to 12 months after the end of such plan year.
  • Permit employees who cease plan participation during 2020 or 2021 to continue to receive reimbursements from unused amounts through the end of the plan year in which their participation ended.
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Improving Decision-Making and Group Performance

Improving Decision-Making and Group Performance

 

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Article by Great People Inside

1BC Consulting, Inc. is a Certified Partner for Great People Inside

Running a business is nothing more than making a series of important decisions. For a business owner or manager, each day is filled with decision-making, with some of those decisions likely meaning the difference between profit and loss. It can become stressful to make such important decisions day after day, especially if you are trying to make them all on your own.

In many cases, it will be better to make decisions as part of a group. When a group comes together to make an important choice, the company as a whole will enjoy several advantages. For one thing, the knowledge of all of the various people in the group will be used to make the choice, not just the knowledge of one individual. There are sure to be many different backgrounds and types of experiences within the group, which means great things for the quality of the final decision. Also, bad ideas tend to get filtered out in the group setting, meaning the eventual choice is less likely to be a dud.

 

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Employee Harassment Online – How to Combat It

Employee Harassment Online – How to Combat It

Employee Harassment Online

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Article by 

1BC Consulting, Inc. is a Certified Partner for Great People Inside

Harassment at work is prevalent and can be tough to combat. Being informed and prepared can help employees dealing with harassment recognize their rights and take action when needed. In some work environments, harassment may seem easy to brush off as playful camaraderie or “playing the game”, but it is no less serious than more direct, explicit bullying. Negative actions are often prompted by a harasser’s feelings of fear, disrespect or entitlement, but no matter the reasons, the only way to end workplace harassment is to properly address it.

U.S. law requires employers to create a workplace free from discrimination and harassment. But as offices go virtual, what happens when staff confront a torrent of hate and abuse online? Given that over 44% of Americans say they’ve experienced online harassment, chances are, if you’re an employer, you have people on staff who’ve been impacted. For those with public facing jobs (journalists, policymakers, academics, etc.), online abuse may well be part of day-to-day working life.

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The Fear of Making Mistakes at Work

The Fear of Making Mistakes at Work

 

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Article by 

1BC Consulting, Inc. is a Certified Partner for Great People Inside

The Covid-19 crisis and its fallout — including recession, layoffs, and uneven economic pain — as well as recent protests over police brutality and demands for racial justice have presented many of us with challenges that we’ve not encountered before. The high-stakes and unfamiliar nature of these situations have left many people feeling fearful of missteps. No one can reduce mistakes to zero, but you can learn to harness your drive to prevent them and channel it into better decision making. Use these tips to become a more effective worrier.

As they say, everyone makes mistakes. In many situations, you can correct your error or just forget about it and move on. Making a mistake at work, however, is more serious. It can have a dire effect on your employer. It may, for example, endanger a relationship with a client, cause a legal problem, or put people’s health or safety at risk. Repercussions will ultimately trickle down to you. Simply correcting your error and moving on may not be an option. When you make a mistake at work, your career may depend on what you do next.

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Recruiting Top Talent – A Hidden Gem during the Pandemic?

Recruiting Top Talent – A Hidden Gem during the Pandemic?

 

Top-talent-recruitment-GPI

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Article by 

1BC Consulting, Inc. is a Certified Partner for Great People Inside

 

Many potential new hires who have applied for, been interviewed for, or even been offered a new position are now in limbo. Due to the COVID-19 pandemic and the start of social distancing, self-isolating and the majority of people working from home, recruiting and hiring at this time and even afterwards, will pose its own challenges. The steps that HR departments or hiring managers have to take in order to avoid losing out on top talent and boosting their employer brand will determine the future of most businesses post coronavirus outbreak.

Will this outbreak turn the remote workforce into the new reality we all sensed it could become? Should hiring managers and employers invest in top of the line digital interviewing tools? Are they using their time in lockdown to create a unique business advantage? Even though this is an unpredictable and overwhelming time, it could very well be the perfect time to dust off ideas that would normally take a lot of time to put into practice or simply open the mind to new and exciting ideas.  At the same time, there’s never been a better time to assess your organisation to help you to prepare for life after COVID-19, including the people within it.

Recruitment is a topic many businesses are not even thinking about right now, and it’s even more difficult to plan which roles you’ll be ready to fill when the pandemic is over. However, there is a way you can ensure that when you can hire, the best people are ready and waiting.

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Working from Home in the VUCA World

Working from Home in the VUCA World

VUCA-world - GPI

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Article by 

1BC Consulting, Inc. is a Certified Partner for Great People Inside

 

The COVID-19 virus has reached the pandemic level. This has brought up to everyone’s attention that we are experiencing the full-force of the VUCA (Volatility, Uncertainty, Complexity, Ambiguity) world.

Stock markets have taken a dive, supplies have slowly started to be stretched, events are being cancelled all over the world and travel bans are in-place in various countries. One thing is certain as of this moment, that our work patterns have changed, maybe even forever. For now, we are only talking about the short-term.

Many organizations and small businesses have instilled mandatory ‘work from home’ arrangements whilst others have banned any face-to-face client meetings and international travel. Given the fact that now everybody who can, works from home, it has taken some of the novelty around this subject. As with anything in this world, every unique situation has its pros and cons.

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