Form 1095-C is used to indicate an offer of coverage was made to an eligible employee by an applicable large employer.
There are many common mistakes that filers make when completing Forms 1095-C. We’ve compiled a list of the most common mistakes and how to fix them. Common Mistakes Only creating and sending forms to individuals that enrolled in coverage Common Mistake: Many filers assume that a Form 1095-C should only be completed for individuals that … 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
Determining when full-time employees should be offered health coverage can be one of the biggest challenges for Applicable Large Employers (ALEs) under the ACA Employer Mandate. ALEs who do not immediately offer coverage to full-time employees may be protected by using certain grace periods provided by the IRS, which are called Limited Non-Assessment Periods. What … 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
All providers of health coverage, including employers that provide self-insured plans, must file their annual returns with the IRS to report information about the coverage and each covered individual. Self-Insured Plans: Required Information For self-insured plans, the following information must be reported to the IRS: Self-insured coverage is defined as coverage where the employer assumes … Read more
Within the past 2 years, the IRS has refined their ACA e-file process and the introduction of newer more obscure error codes is an example of this. What does error code 1095C-019-05 mean? In short, this error code indicates that you’ve used a value of $3500 or more in the employee share section (box #15) … Read more
Before you begin to prepare your ACA reporting, it’s important that you know what information you need in preparing Form 1095-C. This step-by-step guide identifies 7 key topics that will help you correctly and timely file your Form 1095-C ACA reporting. 1. Identify common law employees The IRS defines an employee as anyone who performs … Read more