Frequently Asked Questions (FAQ)

Browse our extensive FAQ archive to access valuable resources for accurately completing forms and addressing common IRS-related errors using our straightforward, step-by-step tutorials.

Which ACA Form Do I Need? 1095-B vs. 1095-C

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1095-B, 1095-C, ACA forms, ACA reporting, ACA, Affordable Care Act, IRS

Both Forms 1095-B and 1095-C are for Affordable Care Act reporting, but you may find yourself asking: which ACA form do I need? There are some key differences in each form, so we have created this guide to help you decide which you need in order to report your data. What is Form 1095-B? Form … Read more

How to Correct Form W-2 Using Form W-2c

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form w-2c, form w-2, correct form w-2

Form W-2 is used to provide wage information to employees, the SSA, the IRS, and state and local governments. Employees use these forms to file their individual tax returns. As such, it is important to provide the most accurate information when distributing these forms to their recipients. However, we’re only human, and sometimes we make … Read more

What is a Common Law Employee? – TY 2017

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Common Law Employee - Work Meeting

The first step in preparing for ACA reporting is identifying all of your common law employees. Common Law Employee The IRS defines an employee as anyone who performs services for you if you can control what will be done and how it will be done. This includes when you have given the employee freedom of … Read more

What is a Full-Time Employee? – IRS TY 2017

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understanding information returns - Work meeting, people sitting around table talking

After identifying your common law employees, the next step to preparing for ACA reporting is determining your monthly total of full-time employees. Full-Time Employee Definition For purposes of the Employer Shared Responsibility provisions, the IRS defines a full-time employee as such: “[A]n employee is a full-time employee for a calendar month if he or she … Read more

What is Employer Shared Responsibility? – TY 2017

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Affordability Safe Harbors

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. According to the IRS, to be classified as … Read more

Ultimate Combined Federal/State Filing Program List – TY 2018

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Combined Federal/State Filing Program - North America Lights map

When you use BoomTax to e-file your Form 1099 information returns, you will have the option to utilize the Combined Federal/State Filing Program for participating form types. The Combined Federal/State Filing Program (CF/SF) was established to simplify information returns filing for payers. Through CF/SF, the IRS electronically forwards certain information returns (original and corrected) to … 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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Import Spreadsheet Format Guidelines for Tax Year 2015

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Tax Year 2015 Import Spreadsheet Guidelines

To help you quickly and easily import your employee data, we have created an Excel spreadsheet template that contains all of your 1095-C data in a standard format for tax year 2015. This will make filing your ACA data before the deadline even easier! This format closely mirrors the 1095-C forms so your benefits / … Read more

IRS Announced Updated ACA Deadlines for TY 2015

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Calendar deadline

Recently, the IRS has announced updated ACA deadlines for tax year 2015. Updated ACA Deadlines On December 28th, the IRS released updated ACA deadlines as follows: The IRS has also noted that extensions will not be available in addition to the new deadlines: Importantly, the IRS explained that because the new deadlines are available to … Read more

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