Updated ACA Deadlines Announced for TY 2015

On December 28th, the IRS released updated ACA deadlines as follows:

  • Deadline to distribute Form 1095-C to employees and covered individuals

March 31, 2016

  • Deadline to paper file with the IRS

May 31, 2016

  • Deadline to E-file with the IRS

June 30, 2016

 

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 all filers and are more favorable than the extensions that were otherwise available, no additional automatic or permissive extensions will be granted.

The importance of filing by the new deadlines cannot be understated, as the IRS is applying a good faith compliance standard to all timely filed forms reporting 2015 information.  Under this standard, the IRS will not assess a penalty for incomplete or incorrect information on the reporting forms as long as the forms were filed on time and the filer can show that it completed the forms in good faith.

 

Accordingly, BoomTax has updated our recommended deadlines as follows:

  • Recommended day to have filing prepared (to allow enough time to create employee copies)

March 15, 2016

  • Final date for print and mail requests. Orders are processed as first come first serve. Orders that are placed after this date have a greater chance of missing the employee copy deadline.

March 20, 2016

More information here:

http://www.natlawreview.com/article/irs-extends-deadlines-affordable-care-act-reporting

IRS AIR Test Scenario XML ISS-UI Sample Files

*Note: This post references older test files. The newest XML files are located here:

2016 UPDATE: IRS AIR Test Scenario XML ISS-UI Sample Files

 

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 are required by the IRS before you can start submitting your data to their production system. Unfortunately, the IRS hasn’t released these to the public, so it’s extremely difficult to figure out how to change your output to match a format you can’t see. With these files, you will be able to diff the output of your system to verify that your XML file format is correct.

Continue reading IRS AIR Test Scenario XML ISS-UI Sample Files

Affordable Care Act Filing Software: 1099 Pro vs BoomTax

Thinking of making the switch to BoomTax from 1099 Pro or one of the other 1099 Pro competitors?

We want to make the decision as easy as possible, so we’ve put together some info that’ll help you decide which option is best for you.

Below, you’ll find information to help you compare BoomTax and 1099 Pro, including features and pricing.

Continue reading Affordable Care Act Filing Software: 1099 Pro vs BoomTax