The IRS recently finalized the ACA Forms 1095-B and 1095-C for the 2022 tax year. Businesses that are required to complete ACA reporting must use these forms in 2023.
Interested in learning more about the finalized forms? Wondering how soon you should begin planning to meet your ACA reporting requirements? Keep reading, we’re covering all of this information and more!
What do the Finalized 1095-B/C Forms look like?
Great news! Form 1095-B and Form 1095-C look the same as the existing forms. This means the IRS doesn’t plan on adding any notable updates or revisions to these forms. If your business filed these forms successfully for the 2021 tax year, there aren’t any changes to adjust to.
When should businesses begin preparing ACA Reporting?
Our team gets this question frequently! The answer is as soon as possible. As a matter of fact, now is a great time to start planning for your upcoming ACA reporting, and if you have current or prior year reporting that is incomplete, now is the time to address this. Being prepared is the best way to meet your required 1095 deadlines and avoid the costly IRS penalties that can come with these forms.
ACAwise is Now Accepting Clients for their 2022 ACA Reporting!
Completing your ACA 1095 reporting requirements can be complicated, and many businesses struggle on their own. Calling in a professional is a great way to take the stressful burden out of filing for your business. ACAwise offers a full-service solution that is completely customizable based on your organization’s filing needs.
First, select the services that make the most sense for your organization:
Do you have the codes for your employees but you want an easy, streamlined way of e-filing your forms? Then the ACA Core services offered by ACAwise are exactly what you are looking for. You can upload your employee information to your ACAwise account, we can accept your data in a variety of forms for your convenience.
Once we have your data, we will validate it to ensure that all of your employee TINs are correct. Now we will generate your copies for review. Now, all that’s left is to e-file your ACA 1095 Forms with the IRS.
With the ACA Elite services, you get all the benefits of the Core services, plus we create all of your codes for you, which is a great option for organizations that don’t wish to generate their own codes. No matter which package you choose, the ACAwise team will be there at every step of the process!
ACAwise also offers customizable services that you can add on as needed! Organizations can also meet their recipient copy distribution requirements, state e-filing requirements, opt-in to TIN Matching, and more with ACAwise!