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XML Handler from Benefitscape_ Efiling to IRS
Software modules designed to produce XML files for ACA compliance are now fully compatible with the BenefitScape Business Process as a Service. What this means is that an employer can take their XML file and send it to BenefitScape for the completion of printing form 1095C, sending forms to employees and electronically filing all of the information with the IRS.
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| Categories: AIR XML Requirement, IRS AIR eFiling | Tags: | View Count: (975)
Just received letter 226J?…time to sink or swim!
To state the obvious, the IRS has determined that you owe a penalty. An IRS determination is in the legal context a “rebuttable presumption” that is it is presumed to be true unless you can present adequate evidence to the contrary. Its up to you...sink or swim.
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| Categories: Penalties | Tags: | View Count: (1186)
3 Big Reasons to Distribute Form 1095-B/C Weeks Before the March 2nd Deadline Extension
As an Applicable Large Employer, the IRS requires you to distribute Form 1095-B/C to your Full Time employees by the recently extended deadline of March 2nd, 2018. Prior to the extension, the original deadline set by the IRS for Form distribution was January 31st, 2018. The BenefitScape team recommends delivering the Forms to employees as close to the original deadline for the following reasons:
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| Categories: Penalties, Tax Year 2017 | Tags: 1095 , TY2017 , Extension , ACA Compliance and Reporting | View Count: (784)
IRS Extends Deadline for ACA Form 1095 Distribution To Employees to March 2, 2018.
IR-2017-209, Dec. 22, 2017 EXTENSION OF DUE DATE FOR FURNISHING STATEMENTS WASHINGTON ― The IRS announced today that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals. Specifically, this notice extends the due date for furnishing to individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017, to March 2, 2017. This notice also...
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| Categories: | Tags: aca , form 1095 , extension | View Count: (1069)

Legal Update: EMAC & HIRD

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Legal Update: EMAC & HIRD
Massachusetts' new and increased EMAC Assessments are beginning January 1st, 2018 and ending December 31st, 2019. Fiscal Year 2018's budget-related legislation temporarily increased an existing employer fee known as the Employer Medical Assistance Contribution (EMAC) and also created a new, temporary, 5% assessment on employers to help offset a projected future $600 million shortfall in the MassHealth program.
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| Categories: Tax Year 2017 | Tags: EMAC , HIRD , ACA Compliance , TY2017. | View Count: (879)
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