OutThink Risk_JFernandez1

OUTTHINK RISK

ACA Complexities Simplified.

FirstCapitolConsulting.comFirst Capitol Consulting, Inc.

© 2016 Copyright FirstCapitolConsulting.comFirst Capitol Consulting, Inc.

What is at Stake?Like many other governmental regulations, one small misstep implementing ACA compliance and reporting can put your company at risk of thousands to millions of dollars – not just in non-tax deductible penalties – but also from losses in operational resources and time.

Compliance Requires a Complex Holistic Solution.In-depth knowledge of ACA regulations, sound internal control procedures, and coordination among the company’s finance, tax, human resources, and payroll departments are essential to successfully navigate the complexities of ACA compliance and reporting.

Consider the Following in Order to OutThink Risk:• Select and implement optimal healthcare coverage plans in compliance with the ACA.

► Understand the impact of these plans on your company’s ACA reporting requirements for your employees

• Account for non-employee reporting needs such as retirees and those on COBRA.

• Continuously stay abreast of the ever-changing landscape of the ACA regulatory framework.

• Maintain records in conformity with IRC Sections 6055 & 6056.

► Reporting requires the migration of four autonomous data sources: Human Resources, Time & Attendance, Payroll, and Benefits

► Data sources should be regularly monitored for clerical and system errors

► Complete documentation must be generated and maintained for all activities related to eligibility determination, offers of coverage, enrollment, declinations, etc.

- Critical for successful appeal of penalty notices from exchanges and handling of IRS audits

► Implement a succession plan: turnover of person-in-charge of ACA compliance compels efficient and seamless transition of ACA, internal controls and data source responsibilities

• Ensure prepared and effective representation in the event of an IRS audit.

Are You Ready to OutThink Risk?

ACA is Complex

Our ACA Solutions

The Complexities of the ACA Require Experts Combined with Intelligent Technology.

1. IRS Controlled Group and Common Ownership analysis.

2. Applicable Large Employer (”ALE”) analysis.

3. Measurements/Stability Period analysis.

4. ACA compliance review of Waiting Period limitations and Minimum Value confirmation.

5. IRS 6055/6056 reporting compliance through tracking and administering payroll and benefits data for 1094 and 1095 annual filings and disclosures.

6. Monthly reporting identifying all employees to whom offers of health insurance coverage must be extended.

7. Call center for employee education and enrollment assistance utilizing our proprietary software and methodology that optimizes and reduces healthcare costs for both employees and employers.

8. Section 4980H penalty exchange notice appeals processing.

9. Preparation, filing, and distribution of 1094 and 1095 series forms.

10. PCORI and Transitional Reinsurance Program fee calculations and preparation of Form 720.

11. Free ACA reporting IRS audit representation.

6055/6056 REPORTING

1. We migrate and format payroll/benefits data to meet 6055/6056 requirements

2. We sign and file 1094-C and 1095-C forms.

We do all the work!

Sign and File IRS 1094 and 1095 Forms

Migrate PayrollData

Migrate BenefitsData


© 2016 Copyright

Robert S. Sheen, Esq.Robert, with his extensive background in tax and finance, started his career at KPMG, LLP. Robert specialized in corporate reorganization, mergers and acquisitions, and multi-state tax product development and implementation. In 1998, Robert was asked to join BDO Seidman, LLP to lead its Los Angeles State and Local Tax practice. Before founding First Capitol, Robert successfully implemented several major high profile corporate reorganizations and implemented tax products and strategies to banks and multi-national corporations.

Currently, Robert leads First Capitol, having developed First Capitol’s tax credits and incentive practice to be one of the largest in the nation. In 2008, Robert and First Capitol developed TaxAdvantagesm in a partnership with Intuit for Intuit Employment Management Service’s 1.4 million customers. TaxAdvantagesm with its web portal, call-center, backed with experienced tax professionals, provides the industry’s most effective Work Opportunity Tax Credit services.

Professional Affiliation and Credentials▪ Founder, Organizer and Vice Chairman, U.S. Metro Bank,

2006 to 2013▪ Trustee, USC Pacific Asia Museum, 2002 to 2008▪ National Advisory Board member, Asian American Justice Center

2002 to Present▪ Board member, MTV’s Rock The Vote, 2002-2007 ▪ President, Korean American Bar Association, 2004 ▪ Member, California State Bar, Taxation Section▪ Member, Los Angeles County Bar Association ▪ Member, American Bar Association▪ Member, The Breakfast Club ▪ “The Men of L.A.” The Women’s Foundation, 2003

Education▪ B.S. Business Administration with emphasis in Finance,

University of Southern California▪ J.D., Loyola Law School, Los Angeles

WHO WE ARE


Smart

Innovative

Efficient


Joanna H. Kim-Brunetti, Esq.Regulatory Affairs Joanna, formerly a partner with Akin Gump Strauss Hauer & Feld LLP, joined First Capitol as its Director of Regulatory Affairs and General Counsel. Joanna has nearly 20 years of experience advising clients on a wide range of employment, tax, intellectual property, and other related business issues. Additionally, Joanna brings additional regulatory compliance experience from her pre-legal career in the consulting and aerospace industry.

Joanna spearheads the Affordable Care Act practice at First Capitol, focusing on employer compliance issues.

Professional Affiliations and Credentials▪ Former President and Board Member, Korean American

Bar Association ▪ Rising Star, Super Lawyers▪ Subcommittee Chair, American Bar Association ▪ Committee Member, Federal Courts Coordinating Committee of

Los Angeles County Bar Association▪ Guide to Protecting and Litigating Trade Secrets (ABA 2012)▪ Ethical Considerations in Reissues and Reexaminations

(Practicing Law Institute [PLI], 2011)▪ Symposium on Ethics Issues Arising in the Context of Electronic

Discovery and Document Destruction Policies (2005)

Education▪ B.S. Chemical Engineering, University of California Berkeley▪ J.D., Loyola Law School, Los Angeles


Experienced

Focused

Professional

© 2016 Copyright FirstCapitolConsulting.comFirst Capitol Consulting, Inc.

OutThink Risk Today

ABOUT FCCIFirst Capitol Consulting, Inc. is the industry leader in federal tax credits and incentives and ACA Compliance/ACA Cost Minimization. We are strategically partnered with many international and domestic CPA firms and leading national insurance brokerage companies.

TaxAdvantagesm software, developed in partnership with Intuit, is our proprietary software designed to create synergies in data collection and tax reporting processes layered with eSign technology to process Work Opportunity Tax Credit and ACA Cost Minimizationsm.

First Capitol Consulting has worked with both public and private companies including:

International Gaming TechnologyClear ChannelHome DepotMeadWestvacoKintetsu Enterprises Company of AmericaUnivision/Hispanic BroadcastingNational Beef Packaging CompanySan Joaquin Regional Transportation DistrictRetrophinOPI Products, Inc.DermalogicaWestlake FinancialDriveTimeHanmi Bank

California Center BankAvanirEncore Capital GroupDel Taco McDonald’sJack in the BoxLittle Caesar’sCarl’s Jr.Yum BrandsDenny’sPanera BreadIHOPRiverside Community College District

Contact Us TodayFor more information: Jonathan Fernandez, Business Development ExecutiveFirst Capitol Consulting, Inc.Direct 212.634.4412 x2 I Mobile 732.306.7601 I Fax 213.382.3806 I [email protected]

OutThink Risk_JFernandez1

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