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Having “Fun” with IRS Forms for ACA? Webinar Helps Clear Up Questions

Cynthia Stribling 10/28/2015
Cynthia Stribling

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Employers are facing a critical IRS reporting deadline in early 2016 to comply with the Affordable Care Act (ACA), and Keenan held an educational webinar to help answer many of the questions about the upcoming forms and procedures on October 27. For those who were not able to attend Affordable Care Act: “Fun” with Forms 1094 and 1095-C, a recording is now available. The webinar recording and presentation slides are provided on the Keenan website, free of charge.

blog_forms_webinar2016 is right around the corner, which means the due dates for the first reporting under Internal Revenue Codes sections 6055 and 6056 are quickly approaching. The IRS recently issued the final versions of Forms 1094-C and 1095-C that employers will be using for this first reporting. The webinar reviews changes from the 2014 versions, sorts through the various indicator codes, and answers some burning questions employers have been asking, such as: What exactly is a limited non-assessment period? Do we report on COBRA participants and early retirees? Do we report on Health Reimbursement Arrangements and, if so, how? How have the penalties changed and how do we ask for more time?

Preparation of the filing will be time consuming as it involves month-by-month details of coverage offered for each employee. The webinar discusses the key concepts for completing IRS Forms 1094-C and 1095-C, opportunities for transition relief for employers that qualify, and potential alternative reporting methods that may simplify aspects of the filing. We encourage you to review the webinar, consider the resources you will need to collect the information needed and whether you will need to procure outside assistance.

For our library of educational webinars on the Affordable Care Act and other subjects, visit us online at www.keenan.com/webinars.