Form 1095-C is used to indicate an offer of coverage was made to an eligible employee by an applicable large employer.
Have you ever been curious about how companies with more than 50 full-time and full-time equivalent employees report their health insurance coverage to the IRS? This crucial form serves a dual purpose: it acts as a cover sheet for your company’s filing and provides monthly information to demonstrate compliance with the Affordable Care Act. When … Read more
Form 1094-B, Transmittal of Health Coverage Information Returns, is purely a transmittal form — also known as a cover sheet or summary form. Form 1094-B must be filed to the IRS along with Forms 1095-B. Together, Forms 1094-B and 1095-B are used to report health coverage information to the IRS. What is Form 1094-B? Form 1094-B … Read more
Many states have adopted Individual Mandates. California ACA filing is now required for certain employers and insurance providers. California ACA Filing Requirements If you are an employer of a California resident, or if you provide Minimum Essential Coverage (MEC) to a California resident, including spouses and/or other dependents, you must report ACA data to the … Read more
Many states have adopted Individual Mandates. New Jersey ACA filing is required for certain employers and insurance providers. Clarifications to New Jersey ACA Requirements The NJ Market Preservation Act requires reporting to verify coverage provided by payers of NJ’s Income Tax. NJ requires employers, insurers, and other coverage providers to: Where New Jersey ACA Requirements … Read more
When filing your data directly to the IRS through the IRS AIR UI or A2A portal, the IRS will report back the status of your filings via an error XML file (if there is an error) complete with the affected submission/record IDs and error codes. We’ve gathered these Form 1095-C IRS AIR error codes into … Read more
Updated: 1/8/2024 As part of our continued commitment to give back to the small business community, we have open sourced our IRS AIR Test Scenario XML files going all the way back to Tax Year 2016. These files can be used as part of passing IRS testing for the AATS ISS-UI and AATS A2A system. … Read more
The end of the 2022 tax year means that the 2023 filing season is just around the corner! With our filing guide, you don’t have to spend endless hours laboring over getting your filings prepared and submitted to the IRS. Whether you’re brand new to filing or have been a doing this for a while, … Read more
We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2 data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper. General Import Spreadsheet Guidelines For more in-depth or specific validation errors, you can … Read more
IRS Penalties can happen for a variety of reasons, including forgetting to file, not filing by the deadline, not furnishing forms, or not offering coverage for ACA filing. IRS Penalties for ACA Forms Both types of ACA filings (B-series and C-series) require that the filer submit a return to the IRS, any applicable states, and … Read more
Tax Year 2022 is coming to a close, which means that the filing season of 2023 is upon us! We’ve created this guide, so you don’t miss the 2023 ACA deadlines. Basic Information When each tax year, or calendar year, comes to a close employers must ensure that they meet all IRS tax requirements regarding … Read more
New Jersey is among the few states that have implemented state Affordable Care Act (ACA) mandates. With the 2023 filing season right around the corner, New Jersey ACA Changes have been announced amongst filing requirements. New Jersey ACA Changes There have been a couple updates regarding NJ ACA Requirements for the coming tax seasons. The … Read more
On Oct 19 2022, the RI Division of Taxation (part of the RI Department of Revenue) released an advisory for taxpayers and tax professionals regarding ACA individual mandate filing deadlines. Rhode Island ACA Deadlines The advisory states that the Rhode Island ACA deadlines for both furnishing forms and reporting with the state have been updated. … Read more
On Oct 13, 2022, the IRS released the final regulations regarding Affordability of Employer Coverage for Family Members of Employees and how this affects eligibility for the Premium Tax Credit (PTC). Background The final regulations amend the Income Tax Regulations (26 CFR part 1) under section 36B of the Code. The IRS and Treasury Department … Read more
Tax Year 2022 is coming to a close, which means that the filing season of 2023 is upon us! We’ve created this guide, so you don’t miss the 2023 deadlines. Basic Information When each tax year, or calendar year, comes to a close employers must ensure that they meet all IRS tax requirements regarding filing. … Read more
The Inflation Reduction Act was signed into law, which means that big changes are coming. Among those changes are increased IRS enforcement and the extension of ACA subsidies, or Premium Tax Credits. Inflation Reduction Act On August 16th, President Biden signed the Inflation Reduction Act of 2022 into law. It raises corporate taxes, makes large … Read more