Form 1095-C Draft for Tax Year 2020 Released by IRS

The IRS has released an updated Form 1095-C draft for Tax Year 2020. The new draft has a few major changes you should know about. This draft will help employers prepare for 2020 Affordable Care Act (ACA) Reporting. A finalized version of the form should be released by early 2021.

Continue reading Form 1095-C Draft for Tax Year 2020 Released by IRS

BREAKING: ACA Deadline Extension for TY2020

The IRS published Notice 2020-76 regarding an ACA deadline extension for TY2020 for employers and providers to issue Forms 1095 to eligible employees. In addition, the extension is automatic and does not require any submitted request.

The deadline to distribute employee copies of Forms 1095 has extended from January 31, 2021 to March 2, 2021. Continue reading BREAKING: ACA Deadline Extension for TY2020