You’re Not Prepared for the ACA E-file Deadline, What are the Next Steps?

The deadline is tomorrow, March 31, 2022!

The deadline to e-file Forms 1094-B/C and 1095-B/C for the 2021 tax year has finally arrived. The IRS expects these forms to be e-filed by midnight tomorrow night.

If you are unprepared for the deadline, it may be time to begin considering your options. Taking action now will lessen the risk of overwhelming IRS penalties later. 

Here is an overview of the options that businesses have and some solutions for moving forward with your business Affordable Care Act reporting requirements

Step 1: File an Extension Form 8809

If you know that meeting your deadline just isn’t possible, your best option is to file an extension. The extension that applies to ACA forms is Form 8809. Please be aware that you must file Form 8809 by midnight (your time zone) tomorrow in order for the IRS to grant your extension.

The extension Form 8809 will buy you some time, but not much. A Form 8809 extension will only give you an additional 30 days to e-file your ACA Forms

When the alternative is potential penalties, an additional 30 days to file is still extremely helpful. This is an automatic extension that can be filed electronically within minutes. The IRS won’t require you to justify or provide any reasoning for your extension. As long as you provide information that matches IRS records and file it on time, you should be approved. 

If you are interested in getting an extension for your ACA Forms, we recommend that you file with our sister product, ExpressExtension

Step 2 Choose a Full-Service Solution

Choosing an ACA reporting vendor is an important decision, you need to make sure that you can trust them with your sensitive information and that they can meet all of your filing requirements. That’s where ACAwise comes in!

As a SOC 2 Certified provider with a decade of experience in the e-file industry, ACAwise follows the highest standards of data security and can handle complex reporting scenarios. 

Step 3: Determine the Services your Business Needs

Where should you start when it comes to deciding what your business needs to maintain IRS compliance? Check out our services, they include our ACA Core package and our ACA Elite package. We also support state-mandated ACA reporting

ACA Core:

Do you have the codes for your employees but do 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. 

Once we have your data, we will validate it using TIN matching to ensure that all of your employee TINs are correct. We also validate your employees’ addresses against the USPS database to ensure that your recipient copies make it to the correct destination. Now we will generate your copies and you can review them. 

Now, all that’s left is to e-file your ACA 1095 Forms with the IRS and mail out your recipient copies to your employees. 

ACA Elite:

If you have no idea where to start with your ACA codes then this package is the best option for your business. You get all the benefits of the Core package, plus we generate all of your codes for you. No matter which package you choose, the ACAwise team will be there at every step of the process!

Talk to an expert today to begin planning your ACA reporting solution


Add a Comment

Your email address will not be published. Required fields are marked *