Form 1095-C

Form 1095-C is used to indicate an offer of coverage was made to an eligible employee by an applicable large employer.

1095C-019-05: Everything You Need to Know About This New IRS ACA Reporting Error AIR Code

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computer code air error code

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

Preparing Form 1095-C: TY2020 Guide

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preparing form 1095-c a step-by-step guide

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

Form 1095-C Draft for Tax Year 2020 Released by IRS

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Form 1095-C Draft for Tax Year 2020 Released by IRS

The IRS has released an updated Form 1095-C draft for Tax Year 2020. The new draft has a few major changes you should know about. This draft will help employers prepare for 2020 Affordable Care Act (ACA) Reporting. A finalized version of the form should be released by early 2021.

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Preparing Form 1095-C Guide – IRS TY 2019

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preparing form 1095-c a step-by-step guide

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 by the deadline. Preparing Form 1095-C – Gathering Information Identify common law employees The … Read more

Preparing IRS Form 1095-C – TY2018 Guide

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Form 1095-C ACA Reporting, aca, efiling, aca reporting, affordable care act, boomtax, 1095C, 1094C, step-by-step guide, Tax Year 2018

Before you begin to prepare your ACA reporting, it’s important that you know what information you need to prepare 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.  Preparing Form 1095-C Identify common law employees The IRS defines an employee as anyone … Read more

Self-Insured Plans: Gather Information, Form 1095-C – 2017

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7 Essential ACA Terms

All providers of health coverage, including employers that provide self-insured coverage, 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

Prepare Employees for 1095-C Form

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ACA regulations require Applicable Large Employers to issue eligible employees an IRS 1095-C form. This form may be new for some employees so you may want to ensure they are well informed of what to expect. At BoomTax, we’ve identified 3 key topics to discuss with your employees in the coming weeks. 1095-C Form Preparation 1.) … Read more

What is an IRS Form 1095-C?

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aca, affordable care act. 1095-C, IRS Form 1095-C

The IRS Form 1095-C provides you with information about the health coverage offered by your employer.  You may receive a form even you decline coverage.  This form provides information about your coverage such as the number of months you and your dependents (if applicable) were covered.  It will also show the cost of the lowest monthly premium plan offered to you.

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Prepare Employees for New Form 1095-C

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new form 1095-c - Man typing

The new ACA regulations require that applicable large employers issue a 1095-C to all eligible employees. Since this reporting requirement is new for 2015, there are some new process considerations to take into account to ensure that your employees are well informed, while also making sure you can gather data to help with compliance. At BoomTax, … Read more

Identify Covered Individuals and Gather Information for Form 1095-C

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Stacked books

For self-insured plans, you’ll need to identify covered individuals (employee, spouse, and their dependents) and their social security numbers. A date of birth will work in lieu of a social security number if you’ve made a reasonable attempt to gather SSNs for all non-employee covered individuals.

Keep in mind that self-insured coverage is defined as coverage where the employer assumes the financial risk for providing health care benefits to its employees. This coverage is rare for small businesses since it is typically costly.

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