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We are approaching year end and facing a deluge of compliance responsibilities, 2020 reporting deadlines and 2021 changes. Failure to file or late submissions can have significant consequences. Along with the stress of year end, decisions need to be made on how to handle PPP loan forgiveness. In this issue, we focus on key decisions and year end topics. 
Need more information on another topic or want it covered in a future issue? Please reply to contact us directly or call us - we answer the phone... live! 508.652.8007 or 866.652.8007.


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1. Four Key Decisions Before Applying for PPP Loan Forgiveness

When applying for forgiveness there are multiple options that can impact the time required to complete the application, amount of forgiveness available and potentially the amount of tax that might be due. Make sure you have all the information you need.

2. MA Health Insurance Responsibility Disclosure (HIRD)

Massachusetts employers with 6 or more employees are required to submit an annual filing of the health insurance responsibility disclosure (HIRD) form. The purpose of this filing is to submit information about any employer-sponsored health insurance plans offered to employees that can be used to identify MassHealth participants eligible for premium assistance.

Read more on the disclosures here.

We would love to keep you informed about new developments that affect workplace compliance, important information that impacts workforce management, and share company news and events with you. You can connect with your favorite Symphony team members too!

3. IRS Limits for Employer Retirement and Employer Benefit Plans

The IRS has announced updates of the dollar limits for Social Security, benefits and contributions under various employer benefit plans. The changes are effective as of January 1, 2021.

Review the limits on our site here.

4. Update to ACA Reporting Penalties (Forms 1094-B, 1095-B, 1094-C, 1095-C)

The late filing penalties have been updated for 2021 and 2022. The 2021 penalty applies to returns files in 2021 for the calendar year 2020. The 2022 penalty applies to returns filed in 2022 for calendar year 2021.

Click here for a comprehensive table with the details on the update.

COVID Office Kits are HERE!

We hope you are all safe and sound during this unprecedented pandemic. Symphony Employer Solutions is offering COVID Office Poster Kits to keep your employees and businesses safe!

  • Poster sizes 8.5" x 11"
  • 2 Face Covering Posters
  • 2 CDC Hand-washing Posters
  • 2 Return to Work Posters
  • 2 Social Distancing Posters
  • Families First Response Act (FFCRA) Poster

Shorten your to do list - let Symphony provide you with your required posters. To see options, samples, and pricing, click Order My Kits below!

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