ACA State Requirements for Tax Year 2020

We know that ACA state requirements can be a little tricky, but we are always here to help simplify things. 

As of today, California, Massachusetts, New Jersey, Rhode Island, Vermont and the District of Columbia have Individual Mandates in place that require employers to report ACA data on the state level as well as federally.

California:
– Similar approach to NJ.
– Data must be uploaded via CA’s SWIFT system.
– Deadline: furnish to employees, 01/31/2021; file with CA Franchise Tax Board by 03/31/2021

District of Columbia:
– State requirements essentially mirror the federal requirements for employers, but the filing submission types are very different.
– All filings must be filed electronically through MyTaxDC; paper filings will not be accepted.
– Deadline: 30 days after the federal ACA deadline. 

Massachusetts:
– Typically done by insurance providers on behalf of the employer.

New Jersey:
– Requires ALEs to use IRS forms 1094-C & 1095-C (B series if self-insured) to send data to the state, except when the insurance provider files on the employer’s behalf.
– Deadline: 03/31 of the following reporting year.

Rhode Island:
– Currently, the only new requirement for employers is furnishing healthcare receipts to employees beginning in 01/2021.

Vermont:
– Currently, there are no additional requirements for employers, but there will be state requirements if federal ACA reporting requirements are eradicated. 

For more helpful information for Tax Year 2020, check out the articles below:
Form 1095-C Draft for Tax Year 2020
No Statute of Limitations for Assessment of ESRP (ACA)
Common 1095-C Coverage Examples with Scenarios

Ready to Get Started?

We are currently working hard on updating and adding new features for our 2020 Tax Year product! Keep an eye out for our release announcement coming soon!

In the meantime, create a free account today and get ready to see just how easy ACA filing can be.

BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.

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