Tuesday, May 24, 2016

Be Sure to Avoid these ACA Late Filing Penalties

Avoid these ACA Late Filing Penalties
The Affordable Care Act 2015 filing deadline for those submitting their forms in the mail is only a week away: May 31, 2016. Forms should be postmarked and mailed by next Tuesday to the IRS. If you opt to e-file, you’ve got a month and a week left; the IRS e-filing deadline is June 30, 2016.

Now, for these 2015 tax period documents, the IRS has decided to waive any late or absent filing penalties for those who can show they made every effort to complete and submit the forms as required by the Internal Revenue Code (IRC). Next year you may not be so lucky.

Because Forms 1094 and 1095 are considered pretty important not only to the IRS, but also to your employees and, oh yeah, the US government, there will be a price to pay for not providing the information required of you. And that price could be upwards of $6 million (in just one year) if you’re not forthcoming with your forms.

Depending on when you do eventually file after the deadline, the IRS is authorized to charge up to $250 for each late or missing return, not to exceed $3 million per fiscal year. So, wait, where’d the other $3 mil come from? Your payee statements. If you don’t send those copies of Form 1095 out to your employees either, the IRS has the right to fine your business up to $250 for each of those - not to exceed $3 million - as well.

If you’ve still got a grudge over Obamacare, and it’s found that you’re intentionally disregarding your ACA reporting regulations, the IRS has rules in place that allow them to increase the per-statement or per-annual penalty caps.

So we say it’s probably best to just go with the IRS: learn the forms this year while the penalty waivers are in place so you can avoid any filing errors in the future. And make a note that the filing dates will be earlier in 2017 than they are this year, so you don’t miss anything important.

Or, you could just sign up with ACAwise; we’ll alert you when it’s time to file and if you’re at risk for receiving a penalty from the IRS for ACA compliance or filing reasons. Give us a call Monday through Friday, 9:00 a.m. to 6:00 p.m. EDT, at (704) 954-8420 for more information.

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Friday, May 20, 2016

5 Ways ACAwise Works for You

5 Ways ACAwise Works for You
Now that you’ve had the chance to get to know ACAwise a little better, we can dive down into the real get-to-know-ya stuff. You know, like third date (or blog) level get-to-know-ya. This is our chance to show you that we’re not like the others, that we think we have something really special here and it’s time to take it to the next level and get exclusive (with your ACA compliance, that is).

But we get it: times have changed. We’re open to just being friends with benefits if that’s more your style. Heck, we’re even prepared for it; take a look at some of these amazing benefits we have to offer:

Secure, Cloud-Based ACA Management
There are literally no strings attached when it comes to your ACAwise account. Because our software is cloud-based, you can access your account from any computer or smartphone. But that doesn’t mean it’s any less secure than a downloadable program; in fact, we’ve taken every possible measure to ensure your account is safe and can’t be compromised.

Real-Time Data Tracking and Alerts
The Dashboards in your ACAwise account track the amount employees work in order to manage ACA compliance. When it’s time to make an offer of coverage to an employee, ACAwise will alert you; when you’re in danger of making an error with offered coverage or reporting, ACAwise will alert you. When the ACA Forms 1094 and 1095 are ready to be approved and transmitted to the IRS, you guessed it: ACAwise will let you know.

So maybe we’re a little clingier than “just friends” implies, but when it comes to ACA reporting, you want to be in the know as much (and as soon) as possible.

Seamless ACA Form Creation and E-filing
At the end of your fiscal year, ACAwise analyzes the data you’ve entered and creates Forms 1094 and 1095 for you. Once you okay the forms, they’re transmitted directly to the IRS for processing. When your forms go to the IRS, our support team in Rock Hill, South Carolina gets an alert to print the recipient copies of your 1095 Forms and mail them out by the next business day.

TIN Verification and Other Error Checks
ACAwise is one of very few ACA e-filing entities to have an automatic TIN verification process built into their system. What this means is that before the IRS ever sees what you report, ACAwise will double check the TINs you’ve entered (like any SSNs or EINs) to make sure they match up with what’s on record at the IRS. ACAwise puts your forms through a few other checks as well to make sure your forms are filed correctly the first time through.

An A+ Support Team
With ACAwise comes access to one of the best e-filing support teams in the nation. From the moment we custom create your account for you, and all throughout the year: we’re available Monday through Friday, 9:00 a.m. to 6:00 p.m. EDT, at (704) 954-8420. We also offer 24/7 support through our email,

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Tuesday, May 17, 2016

Key Date Calendar for ACA Information Returns

Key Date Calendar for ACA Information Returns
One of the easiest ways to avoid errors and incurring penalties with your ACA forms is to give yourself enough time to complete your return by the filing deadline each year. So go ahead and pull out those calendars and mark down these dates, that way you’ll know when your ACA filing should be completed.

Filing in 2016
Filing for the 2015 year officially began earlier in January, and we’ve already passed one of the 2015 deadlines. ACA filers should have had copies of Forms 1095-B and 1095-C posted and mailed to their recipients/employees by March 31, 2016. Meanwhile, there are still two more deadlines just around the corner:
  • May 31, 2016, is the IRS paper filing deadline for 2015 ACA Forms 1094 and 1095.
  • June 30, 2016, is the IRS e-filing deadline for 2015 ACA Forms 1094 and 1095.

Filing in 2017 (And Beyond)
The filing deadlines in future years look a little different than 2016. In December of 2015, the IRS announced they were extending the official ACA deadlines for 2016 so filers could take the time to learn the forms and submit them without errors. Since they figure you’ll have gotten the hang of it after one year, the deadlines are going back to their initial days in 2017 and will remain that way for future years.
  • January 31, 2017, is the date by which you’ll need to have mailed out your recipient copies of Form 1095.
  • February 28, 2017, is the IRS paper filing deadline for ACA Forms 1094 and 1095.
  • March 31, 2017, is the IRS e-filing deadline for ACA Forms 1094 and 1095.

Heads Up, Paper Filers
We have a few reminders just for you. If you’re paper filing, you cannot have more than 250 forms in your return. And where your business is located determines where your forms are sent:
  • If you're in AL, AZ, AR, CT, DE, FL, GA, KY, LA, ME, MA, MS, NH, NJ, NM, NY, NC, OH, PA, RI, TX, VT, VA, or WV, send your forms to: Department of the Treasury Internal Revenue Service Center, Austin, TX 73301.
  • If you're in AK, CA, CO, DC, HI, ID, IL, IN, IA, KS, MD, MI, MN, MS, MO, MT, NE, NV, ND, OK, OR, SC, SD, TN, UT, WA, WI, or WY, send your forms to: Department of the Treasury Internal Revenue Service Center, Kansas City, MO 64999.

But to Make Sure Everything’s Done On Time,
ACAwise is the way to go. ACAwise not only sends you alerts that your forms are complete and ready to be mailed and transmitted, it keeps track of your employees throughout the year to let you know when it’s time to make offers of coverage and benefits. For more information about getting started with ACAwise, give us a call Monday through Friday, 9:00 - 6:00 EDT, at (704) 954-8420, or send us a message anytime at

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Thursday, May 12, 2016

Introducing ACAwise: An All-in-One ACA Compliance Solution

Introducing ACAwise: An All-in-One ACA Compliance Solution

Hello there, weary traveler! Welcome to ACAwise. You must be exhausted spending all this time searching the net, trying to find the best way to file the new Affordable Care Act forms and stay compliant with all its new rules and regulations. Why don’t you sit for a bit and we’ll tell you a bit of our story before you get back on your way. But, who knows? Maybe you’ll decide to hang out and set up shop with us here.

The ACAwise Story
ACAwise is the brainchild of the people who brought you other successful e-filing sites like ExpressTruckTax, ExpressIRSForms, and ExpressTaxExempt. As you’ve probably guessed, ACAwise is an IRS-authorized e-filing service for the ACA Forms 1094-B/C and 1095-B/C, but it’s also so much more.

The best way to ensure ACA compliance when you e-file each year is to keep a detailed record of your employees, the hours they work, and the health care coverage and other benefits you offer them throughout the year. Now, a lot of businesses who need to file the ACA forms will already have some sort of system like this in place. Well, companies who know the importance of keeping good business records will. But it’s unlikely these systems already have an IRS-authorized e-filing system in place for when tax season rolls around.

That’s where ACAwise comes in: it’s the best of both worlds. Real-time dashboards and built-in error checks help track your ACA compliance throughout the year, even alerting you when it’s time to make an offer of coverage or if you’re in jeopardy of receiving an ACA penalty (or) fee.

As For Tax Season...
ACAwise automatically creates Forms 1094 and 1095 at the end of the year based on the data you’ve entered. All you’ll need to do then is review and send them directly to the IRS through our secure e-filing system. Once our offices in Rock Hill, South Carolina get word your return has been filed - which is usually immediately, but may be the next morning depending on how late you’re up filing - we’ll print the recipient copies of Form 1095 for you and mail them out by the next business day.

And if for any reason your return comes back rejected, correcting returns is simple with ACAwise. For instance, the most common error ACA forms are rejected for is TIN mismatching. With the IRS’s e-file system, AIR, you get the entire return back and have to sift through each form’s codes to find the error. With ACAwise, our program automatically pulls the forms with mismatches for you and provides step-by-step instructions for correcting the error. See? Much simpler.

Want to Get in On ACAwise?
ACAwise will be launching a few “lite” versions in the coming months to get our system absolutely perfect for all your future ACA compliance and e-filing needs. Give us a call Monday through Friday, 9:00 a.m. to 6:00 p.m. EDT, at (704) 954-8420 to find out more about how you can be one of the first to try this revolutionary new product, or send us a message anytime through our contact page or by email

Ready to e-file your 2015 forms before you get started with ACAwise? Check out our sister product, ExpressACAForms, where you can experience the same quick and easy e-filing engine used by ACAwise.

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