Latest articles on Affordable Care Act (ACA) everything you need to know to file including code guidance, deadlines, step-by-step guides, and simplified IRS definitions.
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
Today, the IRS announced the annual AIR Production cutover schedule for the Tax Year 2022/Filing Season 2023. This shutdown will affect all Affordable Care Act (ACA) transmissions, including corrections and replacements. AIR Production Cutover Schedule The system shutdown for production will begin on December 5, 2022 at 7:00 am ET. The start up date and … Read more
On Oct 19 2022, the RI Division of Taxation (part of the RI Department of Revenue) released an advisory for taxpayers and tax professionals regarding ACA individual mandate filing deadlines. Rhode Island ACA Deadlines The advisory states that the Rhode Island ACA deadlines for both furnishing forms and reporting with the state have been updated. … Read more
If you e-file your ACA forms to IRS and later realize that you included an additional record by mistake, there is a way to fix it. Although, the IRS doesn’t have a straightforward way to void a 1095-C once it’s been filed, it can be corrected. So this raises the question: Is there a way … Read more
Under the Affordable Care Act (ACA), the federal and state governments, employers, and insurers were given a shared responsibility to improve the availability, quality, and affordability of health coverage in the US. The Affordable Care Act’s employer shared responsibility provisions require certain employers (called applicable large employers or ALEs) to offer affordable health coverage to … Read more