Category: FAQ

Earn Rewards for Referring Your Friends and Colleagues

Yes, you read that right! You can now earn rewards for referring your friends and colleagues to BoomTax.

To do this, simply login to BoomTax, then go to your account information. Select ‘Referrals’ from the menu on the left, copy your referral link, and send it to your friends!

You can earn a $10 Amazon gift card for each referral. Every individual you refer must e-file a minimum of 10 forms with BoomTax to qualify. Your rewards for referrals are then paid out at the end of the tax year.

It’s as simple as that! Happy Referring!

EIN Validation Errors and Next Steps

One of the most common types of ACA e-filing errors returned from the IRS AIR system are TIN validation errors, including EIN errors. The most common EIN errors are listed below:

  • 1094C-004-01 – Form 1094C ‘BusinessName’ and ‘EmployerEIN’ in ‘EmployerInformationGrp’ must match the IRS database. Form 1094C ‘BusinessName’ and ‘EIN’ within ‘OtherALEMembersGrp’ must match the IRS database.
  • 1094C-079-01 – Form 1094C ‘BusinessName’ and ‘EIN’ within ‘OtherALEMembersGrp’ must match the IRS database.
  • 1095B-052-01 – Form 1095B ‘BusinessName’ and ‘EIN’ within ‘IssuerInfoGrp’ must match the IRS database.

What causes an EIN Validation Error?

This will happen when the name and TIN submitted in your filing doesn’t match what the IRS has on file, and this can happen for the following reasons:

  • An employer EIN mismatch on the 1094-C in Part I and also in Part IV of the 1094-C for Aggregate ALEs. (Note: This can also cause TIN validation errors in the associated 1094-Cs for remaining ALE members.)
  • A Issuer Name and EIN mismatch on the 1095-B in Part III, in the Issuer Information section.

Continue reading EIN Validation Errors and Next Steps

What is Employer Shared Responsibility?

Employer Shared Responsibility

The Affordable Care Act’s employer shared responsibility provisions require certain employers (called applicable large employers or ALEs) to offer affordable health coverage to at least 95% of their full-time employees and their dependents, or otherwise make an employer shared responsibility payment to the IRS. Continue reading What is Employer Shared Responsibility?