What Employers Should Know About ACA Reporting
IRS mandates the ACA reporting for ALEs to file the health coverage information offered to the employees. Employers with 50+ full-time employees must report the employees' health coverage information under section 6056 through IRS Form 1094-C and 1095-C. The Form copy must be furnished to the employees. It helps the IRS to determine whether an employer owes a payment under the ESRP (employer shared responsibility provisions) under section 4980H. Also, it helps to determine the eligible employees for the premium tax credit. When is the 2020 ACA 1095-C Reporting is due for? Here are some of the important dates for employers to mark in 2020. Category Deadline Sending copies of 1095-C to employees March 02, 2020 Paper filing of 1094-C and 1095-C February 28, 2020 E-filing of 1094-C and 1095-C March 31, 2020 Missing ACA deadlines can be more stressful as the penalties are huge. Keep track of ACA deadlines and file on time to avoid huge penalties. What is the informat...