IRS 1094 and 1095 Filing Deadlines Extended

Managed ACA RAFT Logo White spaceThe IRS has issued guidance extending deadlines associated with Section 6055/6056 Reporting for 2015. The IRS released Notice 2016-4, which details the new deadlines for employers regarding Form 1094-B, Form 1094-C,  Form 1095-B and Form 1095-C.

The notice also provides guidance for individuals who may not receive a Form 1095-B or Form 1095-C by the time they would like to file their 2015 tax returns.

3 Items ACA Compliance Services Shouldn’t Need to Successfully Work

ACA Third-Party Administrators
ACA Third-Party Administrators Non-Prerequisites

When it comes to taking steps to comply with the Affordable Care Act, there are three things we here at NGE believe you shouldn’t have to worry about when choosing your ACA compliance partner:

  1. Carrier(s)
  2. Payroll Vendor
  3. HRIS System

A good ACA services third-party administrator (TPA) should take care of the process for you.

The Fines and Penalties that Could Cost You Big if You Don’t Comply with the Affordable Care Act

The ACA Employer Mandate can be quite costly for large businesses who fail to comply with the regulations. For example, if a company with 10,000 full-time employees in 2015 does not offer coverage to at least 7,000 of their full-time employees and their dependents (9,500 in 2016), and at least one of the full-time employees receives a premium tax credit to help pay for coverage on a Marketplace, the company could be assessed a penalty of $20 million dollars!!