The IRS recently updated their indexing adjustments for certain provisions under IRC Section 36B in Revenue Procedure 2020-36. There are two important updates for your review.

Bulletin. NJ Entends efiling Deadline to May 15, 2020 With the deadline rapidly approaching to efile NJ Healthcare information, its evident that many small employers do not have the resources to comply with the New Jersey healthcare mandate e-filing requirements. Larger employers may not fare any better since the requirements are complex and require will require at a minimum technical experienced IT staff to handle the XML files required. Here is a guide to determining your organization’s rea...

As deadlines approach, here is a little help from your friends at BenefitScape to help with NJ mandate efiling. Take a look at this Outline of a project plan to enable e-filing to New Jersey starting with the IRS AIR XML file.

Currently, Massachusetts, California, the District of Columbia, New Jersey, Rhode Island, and Vermont have passed state individual mandates. With each state passing its own individual mandate, it makes it difficult for companies to keep up with all the different regulations and reporting requirements. BenefitScape will efile all data required by the state.

As a provider of millions of ACA 1095 Forms, we are often asked "if the employee must have a copy of this ACA Form 1095 to file their federal income tax return?" The IRS has finally answered the question, NO. The Form 1095 is not needed to file Form 1040. In fact there is no longer even a place on the 1040 to provde any information on the individual mandate. THE BOX IS GONE!