BREAKING: ACA Deadline Extension for TY2017

ACA Deadline Extension TY 2017

The IRS has just published Notice 2018-06 regarding an ACA deadline extension for employers and providers to issue Form 1095-C to eligible employees for Tax Year 2017. This extension is automatic and will not require any submitted request. The deadline to distribute employee copies of Form 1095-C has been extended from January 31, 2018 to … Read more

Penalties for Tax Year 2017 ACA and 1099 Reporting

ACA Reporting, aca, efiling, efile, e-filing, e-file, affordable care act, boomtax, 1095C, 1094C, 1099, 1099 reporting, 1099-MISC, 1099-INT, 1099-DIV, Tax Year 2017, IRS, penalties

No one likes having to pay additional fines or fees, especially when they are avoidable. This tax season, you can take active measures to avoid potential penalties by planning ahead, verifying information, and distributing forms in a timely manner. Penalties are charged for failure to timely file tax or information returns, or for filing incorrect … Read more

ACA Compliance Still Required for 2017 Tax Returns

ACA Compliance, ACA Reporting, aca, efiling, efile, e-filing, e-file, affordable care act, boomtax, 1095C, 1094C, 1099, 1099 reporting, 1099-MISC, 1099-INT, 1099-DIV, Tax Year 2017, IRS, Tax Season 2018, Tax Season, ACA Compliance

The Affordable Care Act (ACA) has really been put through the ringer this year. However, despite what’s been going on in Washington, D.C., the IRS has indicated that they will be pushing forward with enforcing ACA compliance for Tax Year 2017. Throughout the year, they have been updating their ACA Information Center with the new … Read more

ACA Reporting Deadlines for Tax Year 2017

ACA Reporting, aca, efiling, efile, e-filing, e-file, affordable care act, boomtax, 1095C, 1094C, 1099, 1099 reporting, 1099-MISC, 1099-INT, 1099-DIV, Tax Year 2017, IRS, Tax Season 2018, Tax Season

With Tax Year 2017 coming to a close, it’s time to start preparing for ACA Reporting in 2018. In order to avoid last-minute time crunches and possible penalties, you should take note of the following deadlines. Recipient Deadline for ACA Reporting The deadline for submitting 2017 Form 1095-Cs to recipients is March 2, 2018.* *UPDATE: … Read more

Prepare for ACA Reporting: TY2017 Guide

ACA Reporting, aca, efiling, aca reporting, affordable care act, boomtax, 1095C, 1094C, step-by-step guide, Tax Year 2017

It is important that you know what information you need before you begin preparing for ACA reporting. We’ve identified the following 7 key topics that may help you to correctly and timely complete your ACA reporting with our Step-by-Step Guide. ACA Reporting Preparation – Gathering Information Identify Common Law Employees First, you will need to identify … Read more

Affordability Safe Harbors – TY2017

Affordability Safe Harbors

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 9.69% of the household income of an eligible employee.

Since household income can be difficult to determine, due to factors such as spousal or secondary income, the IRS offers three safe harbor options to assist in determining affordability:

Read more

IRS ACA Reporting Draft Instructions Released for TY 2017

ACA Reporting Draft Instructions

The IRS has released ACA Reporting Draft Instructions for Forms 1094-C and 1095-C for the 2017 Tax Year. The ACA Reporting Draft Instructions will help employers prepare for 2017 Affordable Care Act (ACA) Reporting. Finalized versions of the forms and instructions will be released in early 2018.  Key Proposed Changes The ACA reporting draft instructions for … Read more

Preparing Form 1099-INT: TY2017 Guide

irs, 1099, 1099-int, e-file, efiling, e-filing, form 1099-int

It is important that you know what information you need before you begin preparing Form 1099-INT. We’ve identified the following 5 key topics that may help you to correctly and timely file your 1099-INT forms with our Step-by-Step Guide. 1. Determine Who Must Receive a 1099-INT Form The IRS instructs that a 1099-INT form must be … Read more

Preparing Form 1099-DIV: TY2017 Guide

irs, 1099, 1099-div, e-file, efiling, e-filing. form 1099-div

It is important that you know what information you need before you begin preparing Form 1099-DIV. We’ve identified the following 5 key topics that may help you to correctly and timely file your 1099-DIV forms with our Step-by-Step Guide.  Determine Who Must Receive a 1099-DIV Form The IRS instructs that a 1099-DIV form must be generated … Read more

Preparing Form 1099-MISC Guide – IRS TY 2017

irs, 1099, form 1099-misc, e-file, efiling, e-filing

It is important that you know what information you need before you begin preparing Form 1099-MISC. We’ve identified the following 5 key topics that may help you to correctly and timely file your 1099-MISC forms with our Step-by-Step Guide.  Determine Who Must Receive a 1099-MISC Form The IRS instructs that a 1099-MISC form must be completed … Read more

Gathering Information For IRS Form 1099-MISC – TY2017

irs, form 1099, form 1099-misc, e-file, efiling, e-filing

Before you prepare or distribute your Form 1099-MISC, you will need the tax information for the business or payer and recipient or payee, as well as the amounts paid to the recipient. A. Business Information You will need to include the following information on each Form 1099-MISC form you prepare. B. Recipient’s Information Before completing … Read more

IRS 1099 Tax Reporting Deadlines for Tax Year 2017

1099 tax reporting deadlines, deadlines, irs, form 1099, form 1099-misc, e-file, efiling, e-filing

IRS Deadline for Form 1099 Reporting The deadline for paper filing 2017 Form 1099s with the Internal Revenue Service (IRS) is February 28, 2018, with the exception of 1099-MISC with Box 7 reporting. The deadline for electronic filing 2017 Form 1099s with the IRS is April 2, 2018, with the exception of 1099-MISC with Box … Read more

Common Errors for Form 1099-MISC – TY2017

Common Errors Form 1099-MISC

So, you: Sounds like you are good and ready to complete and file your 1099-MISC forms. However, before you press that print or e-file button, take a moment to review your information and forms for accuracy in order to avoid potential penalties or other problems. Some common mistakes when completing Form 1099-MISC are: Sending a … Read more

   Help