As we approach the end of tax year 2023, it’s crucial to start thinking about the upcoming 2024 IRS filing season. To assist you, we’ve assembled some essential tax tips for filing with the IRS in 2024. Helpful Tax Tips At the close of each calendar year, filers should make sure that they meet all … Read more
Avoid receiving TIN errors on your filings by using a TIN validation tool, like TINCorrect prior to submitting your filing. What is TINCorrect? TINCorrect allows you to verify SSNs (Social Security Numbers) or company EINs (Employer Identification Numbers) prior to submitting your tax forms to the IRS. Submitting tax forms with the wrong TIN information … Read more
When the IRS made reporting Affordable Care Act (ACA) a requirement back in 2015, it made employer reporting an obligation. There are two form types that can be submitted: Form 1095-B Health Coverage & Form 1095-C Employer-Provided Health Insurance Offer and Coverage. Failure to fulfill the filing and furnishing obligations with the IRS results in … Read more
Year-end tax reporting can come with a multitude of worries, such as incurring fines and penalties with your ACA, 1099, and W-2 filings. Many of these fines could be avoided with Tax Identification Number (TIN) Matching (TIN Verification). This can be a useful tool that filers don’t take advantage of. What is TIN Verification? TIN … Read more
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
Since tax year 2022 coming to an end that means that the filing season of 2023 is right around the corner. With that in mind, we have compiled this list of tax tips for IRS filing in 2023. Helpful Tax Tips As each tax year, or calendar year, ends filers must ensure that they meet … Read more
Yes, you read that right! You can now earn rewards for referring your friends and colleagues to BoomTax.
January 2018 is fast approaching, which means that the tax season is almost here! Here at BoomTax, we are hard at work preparing to release our Tax Year 2017 product. You may have noticed a few changes to our homepage. If you haven’t already, create your free account today and keep an eye out for … Read more
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
*Note: This post references older test files. Newer XML files are located here: As part of our commitment to give back to the community, we have decided to open source our IRS AIR Test Scenario XML sample files that can be used for the ISS-UI system. What are these files? These files are XML files that … Read more
The IRS has specified that employers are not required to furnish a form 1095C for employees that received a “Qualifying Offer” for all 12 months of the year provided the employer’s insurance plan is not self-insured and the alternate form meets a few requirements.