Determining the affordability of the health coverage offered to your full-time employees and their dependents can be a bit complex. To put it simply, provided coverage is considered affordable if the premium constitutes less than 9.5% (adjusted annually) of the household income of an eligible employee for the plan year.
We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2 data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper.
Deadlines vary depending on form and type, so we have compiled a list to make the Tax Year 2020 Deadlines as simple as possible. Keep these dates in mind as you prepare your forms for filing!
Please note: *ACA recipient copy deadline was extended from 01/31/21 to 03/02/21 by IRS Notice 2020-76. **Those with 250+ forms must e-file with the IRS. Individual state filing deadlines for certain information returns may vary. Please verify with your state for the proper method for submissions. BoomTax supports Combined Federal/State Filing for participating states.
As a best practice, we recommend getting started on your filings as early as possible. If you plan on using our Print & Mail services, we recommend having it ordered at least 1weekbefore the deadline.
We have created a series of step-by-step guides that help you prepare for the Tax Year 2020 deadlines.