What We Do
Tax Reporting
Tax Reporting
Seamless Tax Compliance with the Novus360
At Comprehensive Healthcare Systems, we understand that accurate and compliant tax reporting is essential to effective benefits administration. That’s why the Novus360 Tax Reporting Module is designed to simplify complex processes, reduce administrative burden, and ensure full compliance with federal, state, and local tax regulations.
Here’s how Novus360 helps your organization stay ahead:
Simplified Compliance
- Automatically aligns with IRS regulations, including W-2 reporting and Affordable Care Act (ACA) requirements.
- Accurately tracks taxable and non-taxable benefits to ensure proper classification and reporting.
Enhanced Accuracy
- Integrates directly with payroll systems to eliminate errors in calculating taxable benefits such as group-term life insurance and fringe benefits.
- Proactively flags issues like eligibility changes or missed coverage offers, reducing the risk of costly penalties.
Efficient Tax Processing
- Centralizes employee benefit data in one platform, streamlining year-end tax reporting and ACA form preparation (1094/1095).
- Automates benefit deductions and contributions, saving valuable time and administrative effort.
Cost Control and Risk Reduction
- Minimizes financial exposure by ensuring accurate, timely filings in compliance with IRS codes.
- Cuts down on overhead by reducing reliance on manual tracking and reporting tasks.
Real-Time Reporting and Insights
- Built-in analytics provide visibility into benefit costs, employee participation, and tax obligations.
- Helps you identify trends and optimize benefit offerings while maintaining full regulatory compliance.
Better Employee Experience
- Delivers transparency through detailed pay stub breakdowns and self-service access to benefit tax data.
- Builds trust by eliminating surprises in compensation-related tax liabilities.
Comprehensive Healthcare Systems Inc.
Tax Reporting
Tax Reporting
By simplifying compliance and automating complex processes, it empowers businesses to manage benefits efficiently, avoid penalties, and enhance employee satisfaction.
Ready to transform your tax reporting experience? Get in touch with our team to learn how Novus360 can support your compliance and operational goals.