SSN / ITIN Solicitations: ACA Reporting Refresher Part 5 of 5

Dennis Fiszer, Senior Vice President and Chief Compliance Officer HUB Northeast, discusses what employers can do to reduce the risk of penalties that could potentially apply based on a failure to report Social Security Numbers (SSNs) or Individual Taxpayer Identification Numbers (ITINs) to the IRS.

In this video, we’ll explore the importance of collecting Social Security Numbers (SSN) and Individual Taxpayer Identification Numbers (ITIN) in the workplace. We begin with an introduction to SSNs and ITINs and discuss why it is essential for employers to collect this information from their employees.

Next, we examine the legal obligations employers have to collect SSNs and ITINs and explain why it is important to comply with these requirements. We also cover some potential consequences for employers who need to collect this information.

We then provide a to-do list for employers on collecting and verifying SSNs and ITINs from their employees. This includes practical tips and advice for employers on streamlining the process and ensuring compliance with legal requirements.

Finally, we close the video with a summary of the key takeaways and emphasize the importance of collecting SSNs and ITINs in the workplace. We also highlight the potential benefits for employers and employees when this information is collected and used appropriately.

This video provides valuable insights into the legal obligations and best practices for collecting SSNs and ITINs in the workplace. It offers practical tips and advice for employers looking to comply with legal requirements and protect their businesses and employees.

See the rest of our ACA Reporting Refresher Series:

ALE ACA Reporting Basics:    • ACA Employer Reporting Refresher: ACA...  

ACA Annual Filings for Employers:    • ACA Annual Filings for Employers Over...  

ACA Filings Code Discussions:    • ACA Employer Filings Code Discussions...  

ACA Reporting Penalties and Extensions:    • ACA Reporting Penalties and Extension...  

Get more videos like this in our Webinar’s Playlist:
   • Economic Insights  

Click below to subscribe to our YouTube channel to stay up to date with our latest videos:
   / @hubinternational  

#hub #hubinternational