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ACA TY16 Deadlines

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ACA TY16 Deadlines
ACA deadlines for TY16 are coming up sooner than you think. Whether you're a retailer prepping for back-to-school sales and ramping up for a successful holiday season, a university starting a new semester, or prioritizing hiring and building your team of employees, the time to aggregate your employee health insurance data and send it out is coming around the corner. Don't wait to prep! To make planning easier, we have the IRS AIR deadline timeline listed here:
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| Categories: ACA Compliance TY16 | Tags: ACA regulations , ACA deadlines , Affordable Care Act Deadlines , Affordable Care Act 2016 | View Count: (2352)
Even if ACA is Repealed Reporting will Still Be Required
Many employers believe that “ACA Repeal” will mean that the Form 1095 reporting requirement will disappear... This is incorrect. Under current law and under either Congressional Repeal bill (The House or the Senate Version) the IRS requirement to report remains unchanged. Companies need to file Form 1095 reporting for 2017 by the deadline.
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| Categories: | Tags: Form 1095 , ACA Reporting , 1095 Reporting , ACA Compliance | View Count: (1782)

ACA Regulations - TY16 VS TY15

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ACA Regulations - TY16 VS TY15
Although they look minor on paper, there are some significant changes in ACA Regulation for Tax Year 2016 vs Tax Year 2015. We came up with a helpful chart describing the differences:
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| Categories: IRS AIR eFiling , ACA Compliance TY16 , IRS AIR Tax Year 2015 | Tags: aca compliance , aca irs , irs air , aca compliance 2016 , aca compliance regulations , TY2016 aca | View Count: (3092)
Third Party E-filer to IRS AIR eliminates need for User to get a TCC
The IRS AIR System enables Third Party E-filers to submit XML for their clients. ...So there is no need for a company to go through the IRS AIR Application and Testing Process to become a software developer, transmitter, or issuer (company) that is filing your own returns! In brief a company that uses BenefitScape avoids having to register and obtain a Transmitter Control Code (TCC).
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| Categories: IRS AIR eFiling | Tags: Third Party efiler , Third Party Efiler to IRS AIR , TCC code , Transmission Control Code | View Count: (2143)
You made the deadline…but they moved the finish line?
E-filing ACA Information Returns is NOT a one and done process. If the IRS finds ERRORS they need to be corrected. Only then is the filing complete. ACA e-filing is a new and complex procedure with several deadlines and strict criteria for correct submission. Incorrect submission and failure to rectify corrections can result in steep penalties. There are significant penalties if proper correction guidelines are not met.
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| Categories: IRS AIR eFiling | Tags: IRS AIR , Corrections , Efile | View Count: (3493)
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