What are the ACA Reporting Penalties?

When an Applicable Large Employer (ALE) fails to comply with their ACA reporting requirement, they will then be subject to various penalties.  These penalties apply both for not providing forms timely to employees as well as not filing timely to the IRS.

The penalties are as follows:

Did you fail to file a return, and on-time?  The penalty will be $250 for each return up to a maximum of $3,000,000.
Did you fail to provide your employees with their statements, and on-time?  The penalty will be $250 for each return up to a maximum of $3,000,000.

If there ever is intentional disregard of the […] Read more

ACA Reporting Delay: Impact On Individual Tax Filings

One of the most common questions we are receiving is regarding the impact to employees filing their own personal taxes now that there has been an extension of time allowing employers and organizations until the end of March 2016 to supply forms 1095-B and 1095-C to their employees.  The concern rises when employers consider how employees can complete their normal tax filings without being provided the forms showing their health coverage for the year.

The IRS recently released some guidance to assist us with understanding this topic.  In their guidance they have said, “Due to these [ACA reporting] extensions, some individual […] Read more

IRS Changes ACA Reporting Deadlines …

Today the IRS and Treasury Department released guidance extending some of the Affordable Care Act reporting guidelines.  Simply put, the extensions will allow for the following:

Employers will have an additional two months (until the end of March 2016) to provide employees with the forms 1095-B and 1095-C, and
Employers will have an additional three months to file with the IRS.  

New paper form filing deadline:  May 31st, 2016
New e-filing form filing deadline:  June 30th, 2016

To learn more you can see the actual guidance by clicking here.

[…] Read more

All Large Employers MUST Complete ACA Reporting (Even Fully Insured Groups)

All Large Employers MUST Complete ACA Reporting (Even Fully Insured Groups)

This comes as a surprise to many, but YES – if you are an employer with 50+ employees (or full time equivalent employees), you must complete ACA Reporting to the IRS (forms 1094 and 1095).

But I’m Fully Insured . . . My insurance carrier will take care of this right?   No!

You might have thought that your insurance carrier was going to take care of this, but they only report the portion that they are required to report as an insurance carrier.  Employers still have additional responsibilities.  

The easiest way to think about this is by considering what the […] Read more

Top ACA service vendors implement cutoff dates for new clients!

Supreme Court Rules In Favor of Subsidies

Last Thursday (June 25th) the Supreme Court approved federal subsidies for health insurance under the Affordable Care Act. So the result? The ACA and all the mandates that go with it are not going anywhere soon. This is forcing employers to ask themselves the hard hitting question, “Are we ready for the ACA mandate”?

Are Employers Really Ready for ACA?

The reality is that the majority of employers have not yet begun to implement a strategy to comply with the new ACA compliance requirements. With the first reports being due by January 2016, many employers are […] Read more

ACA Reporting Fast Turn Around

Just a quick marketplace update for anyone interested.  We are proud to announce that our current turn around time for producing final forms 1095-C for employees is within 48 hours of receiving final workbook data necessary to create these forms.  We are incredibly proud of our staff who has been able to make this quick of a turn around time reality.  So if you are in need of some quick help, give our customer service department a call!

Still need help with reporting?  We are accepting clients for 2015 calendar year reporting.  Visit the pricing section of our website for more […] Read more

Form 1095-C Printing & Mailing Service Released

If you have not heard the news yet, we have recently opened up our form 1095-B and form 1095-C mailing services to employers.  The feedback we have received thus far is that we are one of the least expensive option in the marketplace, especially when considering the total value we bring to the process.

You can learn more by visiting this page on our website here…

In addition, we have released a form 1095-C code calculator to assist employers with knowing more of the logic regarding how lines 14, 15 and 16 work.  This is being provided courtesy of TaxForm1095.com.  You can […] Read more