ACA Filing Season is Here! Let ACAwise Handle Your 1094/1095 Filings

The ACA filing season is here! Back-to-back filing deadlines are lining up! 

The Affordable Care Act (ACA) mandates that applicable employers report health coverage details to the IRS and provide necessary documents to employees. Understanding these deadlines and acting now can make all the difference in avoiding last-minute stress and penalties.

This blog discusses the key ACA deadlines and how to navigate them efficiently.

Key ACA Filing Deadlines for 2024 Tax Year

Employers and insurance providers must meet the following ACA reporting deadlines to stay compliant with IRS regulations:

• February 28, 2025 – Paper Filing Deadline: This is the last day to submit ACA Forms 1094 and 1095-B/C to the IRS via paper filing. Organizations choosing this method must ensure their submissions are postmarked by this date.
• March 03, 2025 – Recipient Copy Deadline: Employers and insurers must deliver copies of Form 1095-B/C to employees and recipients by this date. Ensuring timely distribution helps individuals file their tax returns correctly.
• March 31, 2025 – E-Filing Deadline: Organizations required to e-file must submit their ACA Forms 1094 and 1095-B/C electronically to the IRS by this date.

Consequences of Missing the ACA Deadline

Failure to file ACA reports on time can lead to several consequences. The IRS enforces penalties for late or inaccurate ACA filings, which can escalate quickly.

Here’s what’s at stake:

• Late filing penalties for each return not submitted on time.
• Incorrect or incomplete filings lead to additional IRS scrutiny.
• Failure to provide recipient copies resulted in separate penalties.

ACAwise – Your Full-Service Partner for ACA Compliance

ACAwise is a trusted full-service provider for all your ACA reporting needs, offering flexible solutions tailored to your business. Whether you’re an experienced filer or new to ACA compliance, ACAwise has the right tools to ensure smooth and accurate filings:

• ACA Core: ACA Core is designed for businesses that already have their ACA filing information ready, including necessary codes. If you’re comfortable managing the details of ACA filing, ACA Core allows you to generate your ACA forms quickly and efficiently.
• ACA Elite: ACA Elite is perfect for businesses that aren’t familiar with ACA filing or need more support. ACA Elite makes it easy by generating the required ACA forms and codes based on your employee census data, payroll data, and other necessary information.
• State Only Services: ACAwise also offers State Only Services for businesses needing to file ACA forms at the state level. These services ensure compliance with state-specific reporting requirements, handling both e-filing and distribution so you can meet local mandates effortlessly.

Our add-on services include:

• Accurate ACA Form generation based on employer data
• Performs TIN Matching and USPS Validation to ensure correct taxpayer information
• Offers Postal mailing and Online Access services to distribute recipient copies.

Don’t wait until it’s too late! ACAwise is here to help you navigate ACA compliance effortlessly.