Employers Able to Submit Test Filings for ACA Reporting Requirements

The IRS announced recently that employers will be able to start submitting test filings of 2015 forms for reporting health coverage offered to employees under the Affordable Care Act. Draft versions of and instructions for Forms 1095-C (documenting employers’ offer and coverage) and Form 1094-C (transmittal summary for Forms 1095-C) are currently available online.
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The IRS announced recently that employers will be able to start submitting test filings of 2015 forms for reporting health coverage offered to employees under the Affordable Care Act. Draft versions of and instructions for Forms 1095-C (documenting employers’ offer and coverage) and Form 1094-C (transmittal summary for Forms 1095-C) are currently available online.

Under the Affordable Care Act’s reporting requirements, large employers (those with 50 or more full-time employees or full-time equivalents) are required to gather numerous pieces of data on a monthly basis and report them annually to the IRS. The information reported is intended to enable the IRS to verify compliance with the individual and employer mandates, and to administer subsidies for qualified individuals who purchase coverage through the newly-created insurance exchanges. 

Employers must file the necessary forms no later than February 29, 2016, or March 31, 2016, if filed electronically.

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