Just when you thought tax season was over, boom, another deadline pops up on the horizon. Congratulations on making the W-2 and 1099 deadline! Now it’s time to meet the ACA deadline for your business.
February can be quite a busy time for businesses, so if you aren’t exactly ready to prepare another huge return, don’t panic. We have the solutions set in place for you to quickly prepare your ACA forms by the March 2nd deadline, or you can even get an extension if you need more time.
Need More Time to File ACA Forms? We Can Help
Now you sort of already have an extension because the original ACA form distribution deadline was January 31, but the IRS extended the due date to March 2nd, giving you 30 extra days to provide Form 1095-B or 1095-C to your covered individuals.
March 2nd is only the deadline for distributing copies of these tax forms to your covered individuals. You have until February 28th to paper file these forms and until April 2nd to e-file them.
Due to these extensions, your covered individuals may not receive Form 1095-B or Form 1095-C by the time they’re ready to file their personal income tax returns, but that’s fine. These forms may help them file but aren’t required. Information about their healthcare coverage can be found on other documents.
Form 1095-B is used to by insurance providers, including insurance companies, self-insured employers, employers with less than 50 full-time employees, and other agencies that provide health care coverage to report individuals offered the minimum essential coverage and information regarding that coverage to the IRS.
Form 1095-C an annual statement used by ALESs (Applicable Large Employers) to report the health insurance coverage offered to their full-time time employees under the Affordable Care Act (ACA).
To Prepare Your Forms By The Deadline
In order to prepare your forms to be distributed b the March 2nd deadline head to ACAwise.com. ACAwise is the complete ACA reporting solution to help you quickly and easily handle all of your ACA needs online.
ACAwise will track your employee data all year to make sure you remain compliant with the ACA rules and regulations set forth by the IRS. Then your ACA form will automatically be generated at the end of the year for instantly filing, then you can transmit it directly to the IRS.
Simply enter your basic business and employee information, then ACA wise will handle the rest. They’ll even automatically generate the required ACA indicator codes for Form 1095-C.
Then you can take advantage of their postal mailing feature to have their team print and mail hard copies of your forms to each of your recipients from their South Carolina based office.
If You Need More Time
If you know you need more time to file then get with ExpressExtension to file Form 8809, the request for more time to file information returns. Simply create your free account and follow our step-by-step guide to quickly and easily complete your form.
All you have to do is fill it out Form 8809 and transmit it directly to the IRS by the ACA deadline, then you will automatically receive 30 extra days to file your ACA forms!
If you need any assistance please don’t hesitate to contact the live, US-based ExpressExtension support team.