Richard

Missed a deadline? Don’t compound the issue and risk a penalty, print and file forms as soon as possible and email in order to be able to exhibit “Good Faith” and explain your reason for not meeting the deadlines.

The IRS has,provided little breathing room for employers required to prepare ACA Forms. In Notice 2019-63, the IRS provided additional reporting relief for employers for the 2019 calendar year.
Note: eFiling to IRS AIR was not extended, deadline is March 31, 2020

In Brief: BenefitScape Cloud can take your Federal ACA filing and eFile it to New Jersey. Its that simple!
No additional effort on your behalf, its that easy. The result 100% NJ Compliance with no additional work!
New Jersey employers and out-of-state employers that withhold and remit New Jersey Gross Income Tax for New Jersey residents must submit returns to the state and distribute statements to employees in early 2020.

The IRS has begun issuing Notice 972CG, a penalty notice regarding late filings of Forms 1094 and 1095 for Tax Year 2017. The notices also include penalties for unresolved TIN validation errors and for not filing returns electronically if you filed more than 250 forms on paper.

The IRS recently began issuing Penalty Notices for TY2017. Employers have begun receiving Letter 5699 ‘Failure To File’ Notices.

Form 1095 and W2_Box12 are both tax filings and as such should be treated with the diligence any accounting-based tax filing requires. If the results don’t match on both forms… you essentially are signaling to the IRS that there may be a discrepancy in the filing!

IRS e-filing to the new Affordable Care Act Information Returns system (AIR) requires constant technological improvement to keep up with the requirements the IRS has imposed on applicable large employers (ALE’s). Most “tax filers” have not improved their process to the point where they can reduce errors and potential penalties for those using their filing systems. Essentially they can file arithmetic reports such as W-2 and 1099 but do not possess the skills and software to manage ACA filings.