SOURCE: First Capitol Consulting

First Capitol Consulting

May 10, 2016 11:00 ET

Key Findings of Compliance Issues Within 100% Success Rate of ACA Reporting Deadline

Critical Employer Data Errors Were Detected and Corrected While Meeting ACA Information Returns Distributions Deadline of March 31, 2016

LOS ANGELES, CA--(Marketwired - May 10, 2016) - Today, First Capitol Consulting, Inc., a financial tax consulting company specializing in tax credits, ACA compliance, and proprietary financial technology solutions, announces a 100% compliance record meeting the Government mandated ACA employee reporting deadline of March 31, 2016.

Of the company's recent success, Woodruff-Sawyer & Company's Client Technology Services Manager, Deric Haessler said, "First Capitol Consulting exemplifies specialized knowledge, quality of service, and commitment to delivery. FCCI delivered reporting to our customers by the IRS deadline with extremely high accuracy in the filings process. First Capitol not only simplified the complexities and burdens of ACA reporting, but saved our customers potentially millions of dollars in federal penalties."

Key findings in preparing ACA reporting for the 2015 year include the commonality of errors in the employee data critical to proper ACA reporting. Such errors included failure to properly recognize employee hire dates, salaries, and termination dates.

Another key finding was the lack of preparedness by companies in recording and tracking offers of benefits coverage to their employees.

Recognizing such employer errors, First Capitol successfully worked with many companies to accurately assess, correct, and migrate the data to input for proper ACA reporting and meet the ACA reporting deadline.

About First Capitol Consulting, Inc: First Capitol Consulting, Inc., is one of the leaders and largest credits and incentives service providers, specializing in regulatory compliance, based in Los Angeles, CA working with 15 of the 20 leading insurance brokers in the country. Founded in 1999, First Capitol Consulting has empowered thousands of businesses with tax savings while advancing the local and national economies, encouraging the employment of the disadvantaged workforce within the federal poverty level, veterans, those with disabilities, among others. First Capitol Consulting's technology platform, TaxAdvantagesm, was jointly developed in partnership with Intuit, to create synergies in data collection and tax reporting processes layered with E-sign technology. First Capitol has mastered utilization of its ACA, tax, payroll, HR, Government regulations expertise, data collection infrastructure and proprietary technologies to support clients in implementing at an optimal ACA action plan.

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