The ACA e-file deadline is right around the corner on March 31, 2022, however, much more pressing is the ACA recipient copy deadline. If you are required to complete ACA reporting, you must distribute copies of Form 1095 to your employees/recipients by March 2, 2022, that’s today!
Here is a helpful, last-minute guide to help you prepare for and meet your ACA reporting deadlines for the 2021 tax year.
Start by Determining your ALE Status
It is always important to be aware of your ALE status as a business. Remember, an applicable large employer, or ALE, is defined by the IRS as an employer with 50 or more full-time equivalent employees.
Depending on when you hire new employees and the number of hours your part-time employees are working, you can become an ALE without realizing it. Therefore, it is always important to track not only the number of full-time employees on your payroll but the number of hours being worked by your part-time staff.
There are three important deadlines associated with ACA Reporting:
February 28, 2022 (IRS paper filing deadline)
March 2, 2022 (recipient copy deadline)
March 31, 2022 (IRS e-file deadline)
Complete Forms 1095
If you are still struggling to complete your employees’ Form 1095s, it may be time to call in a professional to ensure that you are filing correctly. The ACA Forms 1095-B and 1095-C are complex IRS tax forms, not to be taken lightly.
If you have little experience with them, it is easy to make errors on these forms, especially when it comes to the ACA codes required for Lines 14 and 16 of Form 1095-C.
If you need help with the generation of your Forms 1095, ACAwise provides a complete solution that will remove the burden from your shoulders. To learn more, reach out to an expert member of our team today.
Printing and Mailing Solutions
Printing and mailing your own ACA Forms can sound like a great idea…in theory. However, in practice it is risky. Depending on how many employees you have, this can become hundreds of papers, envelopes, stamps, and several trips to the post office.
Plus, after all that hard work it is possible that some of your copies may not end up at the recipient’s correct address if you have no way of verifying that this address matches the USPS database.
In ACAwise, we understand this, that’s why we offer a complete solution for printing and mailing your forms. We are able to handle high volumes of forms quickly. We run USPS validations to confirm that all of your recipient copies are in fact going to valid addresses found in the USPS database.
To take advantage of our easy solution, act now! There are only a few more days left before the ACA recipient copy deadline.