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Smooth ACA Reporting for IRS Compliance: EXTENDED DEADLINE
Posted on: Jan 6th, 2016
Affordable Care Act reporting, the most complex workforce reporting ever required, is right around the corner for many U.S. businesses. Similar to requiring that every employee receive a W-2, some employees must also have a 1095-C form in their hands.
The original deadline of Feb 1 was just extended by the IRS to March 31, a bit of breathing room but not a reason to procrastinate! This statement about the availability of health care at your business is required whether or not you:
- Have offered affordable health care to your full-time employees all along.
- Have decided to pay the penalties for not offering coverage this year.
- Employ between 50 and 99 workers and are not facing penalties related to Tax Year 2015 coverage.
You MUST fulfill the IRS reporting requirements around ACA compliance by sending 1095-C forms to certain employees and filing copies of them to the IRS (with the 1094-C transmittal form).
Be aware: The non-filing penalty is $500 per required return! If you act now, it is possible to produce 1095-C forms for your employees by March 31 and then be ACA-ready for filing copies with the IRS.
Our ACA reporting solution can help you.
- It accepts data from any payroll or ERP system.
- It is smart, comprehensive and cost-effective.
- It can be deployed in one day.