More good news for employees to obtain affordable Health Insurance The Internal Revenue Service (IRS) provided two additional codes from Code Series 1 to be used on Form 1095 for ICHRA Reporting on line 14. This is used for reporting offers of individual coverage HRAs (ICHRAs) under Section 6056. These codes were previously reserved (unused) on […]

BenefitScape is a Ceridian implementation partner for Dayforce with certified consultants specializing in Employee Benefits. We participated in the Partner Zone, which showcases our Ceridian related services, highlighted in this video.

Who is subject to this reporting requirement? An employer or other sponsor of an employment-based health plan that offers employment-based minimum essential coverage to any resident of Rhode Island. So essentially any company that provides healthcare coverage through Rhode Island residents will be required to file. The good news is that the state is being very flexible

As TY2020 ACA Compliance and Reporting deadlines are fast approaching, refer to BenefitScape's Back to ACA Basics to brush up on the upcoming compliance process! Today we'll be reviewing Forms 1095-C and 1094-C:  Per the ACA Employer Mandate, Applicable Large Employers (ALEs) must offer Minimum Essential Coverage (MEC) to at least 95% of their full-time

The IRS has issued Notice 2020-76 extending the due date for the 2020 1095-B and 1095-C forms to be sent to employees from January 31, 2021 until March 2, 2021. However, the Notice also confirms that the due date for filing those same 1095 Forms with the IRS remains the same: February 28, 2021 if filing paper

The IRS has recently begun issuing and re-sending Letters 5699 for Tax Year 2018 for non-filers. Their Enforcement Office located in Ogden, UT was temporarily closed in March 2020 in response to the COVID-19 state stay-at-home orders. The office was originally scheduled to reopen on July 15th but recently reopened in late August.  IRS Letters:

We've previously blogged about the updated Forms 1094-B/C and 1095-B/C for TY2020, and now we're pleased to share some further insight into some of the changes made on this years' forms, specifically surrounding Individual Coverage Health Reimbursement Arrangement (ICHRA) compliance. There are several big changes: New data fields on Form 1095-C to include an individual’s zip code

As COVID-19 severely affects various industries such as hospitality and food service, your organization may be experiencing mass furloughs and layoffs to protect your business. As you and your team work through these changes, ACA Compliance and Reporting may top be top of mind, but we're here to help you with these efforts to avoid

COVID-19 has caused a great deal of uncertainty and confusion across many sectors as the situation continues to evolve and introduce new challenges. Given the unprecedented nature of the current situation, there is no playbook for risk and compliance management. BenefitScape is prepared to assist your organization with navigating this situation to ensure complete ACA Compliance

The IRS has recently posted an announcement on their website, saying all mailing and correspondence including responding to Employer Shared Responsibilty Payment (ESRP) was postponed until after July 15th, 2020. Translation: BenefitScape recommends that Employers should begin to gear up for IRS ACA Penalty Notices.  Who is affected?  Under the ACA Employer Mandate, Applicable Large Employers (ALEs) must

Important news! On July 13, 2020, the IRS released its draft TY2020 Forms 1095-C and 1094-C with some significant changes. Read about these changes here!

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.

Here is a guide to determining your organization’s readiness and a few practical tips if your organization is to go forward and attempt this NJ efiling. Many employers have voiced concern that these NJ filing requirements are difficult for them to comply. In particular, smaller employers may not have the capacity for electronic filing of information

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!

Missed a deadline? Don’t compound the issue and risk a penalty, print and file forms as soon as possible and email in order to be able to exhibit “Good Faith” and explain your reason for not meeting the deadlines.

The IRS has,provided little breathing room for employers required to prepare ACA Forms. In Notice 2019-63, the IRS provided additional reporting relief for employers for the 2019 calendar year.
Note: eFiling to IRS AIR was not extended, deadline is March 31, 2020

In Brief: BenefitScape Cloud can take your Federal ACA filing and eFile it to New Jersey. Its that simple!
No additional effort on your behalf, its that easy. The result 100% NJ Compliance with no additional work!
New Jersey employers and out-of-state employers that withhold and remit New Jersey Gross Income Tax for New Jersey residents must submit returns to the state and distribute statements to employees in early 2020.

The IRS has begun issuing Notice 972CG, a penalty notice regarding late filings of Forms 1094 and 1095 for Tax Year 2017. The notices also include penalties for unresolved TIN validation errors and for not filing returns electronically if you filed more than 250 forms on paper.

The IRS recently began issuing Penalty Notices for TY2017. Employers have begun receiving Letter 5699 ‘Failure To File’ Notices.

Form 1095 and W2_Box12 are both tax filings and as such should be treated with the diligence any accounting-based tax filing requires. If the results don’t match on both forms… you essentially are signaling to the IRS that there may be a discrepancy in the filing!

IRS e-filing to the new Affordable Care Act Information Returns system (AIR) requires constant technological improvement to keep up with the requirements the IRS has imposed on applicable large employers (ALE’s). Most “tax filers” have not improved their process to the point where they can reduce errors and potential penalties for those using their filing systems. Essentially they can file arithmetic reports such as W-2 and 1099 but do not possess the skills and software to manage ACA filings.