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The IRS ACA reporting DEADLINES for TY24 [filing in 2025] are as follows: MARCH 3, 2025: Deadline to furnish IRS FORMs 1095-B & C to individual eligible employees. MARCH 31, 2025: Deadline to e-file FORMs 1095-B & C and employer Form 1094-C plus all other required ACA documentation to the IRS. » NOTE: NO MORE […]
ACA TY24: IRS Deadlines & Penalties Read More »
The annual Dayforce Discover event starts in Vegas on Monday, November 11. BENEFITSCAPE will be participating this year as both the Dayforce Software Partner and Dayforce Consulting Partner for Benefits & Compliance. HCMs DELIVER BEST-IN-CLASS BEN ADMIN. Dayforce’s deep BENEFITSCAPE partnership reflects the industry-leading work BENEFITSCAPE has done pioneering ACA COMPLIANCE & REPORTING along with
Dayforce Strengthens BENEFITSCAPE Partnership Read More »
The IRS has published the TY2024 ACA Compliance & Reporting templates for employee FORM 1095-B and FORM 1095-C. The TY24 deadlines for distributing these forms to employees and for filing to the IRS are as follows: Forms 1095 Distribution Deadline: March 3, 2025 FORMS 1095 IRS E-Filing Deadline: March 31, 2025 FORMS 1095 & STATE-MANDATED
IRS Publishes Forms 1095-B & C for TY24 Read More »
This three-part series on AI & REGTECH has been created by the data scientists and benefits specialists at BENEFITSCAPE to provide a high-level framework for understanding how AI can support ben admin and compliance. In this final post, we sum up the key takeaways for employers from Parts 1 & 2. 1. AI comes with
AI & Regtech: The 7 Key Takeaways Read More »
By BENEFITSCAPE CHAIRMAN Ken Phillips INTRODUCTION Alongside Human Capital Management [HCM] systems, employers typically use specialized ben admin software and services to manage health & welfare benefits. These best-in-class employee ben admin solutions have robust specialized functionality and deep integration with both the benefits supply chain and compliance reporting. HCMs have found it hard to
HCMs Deliver Best-in-Class Ben Admin Read More »
By BENEFITSCAPE CHAIRMAN Ken Phillips ________________________________________________________________ The IRS has invited feedback on the ACA reporting and compliance process — more specifically, on the efficiency and utility of FORMS 1094-C and 1095-C. BENEFITSCAPE’s response is a very practical one. Our focus has always been on developing specialist ACA technology — in conjunction with best-in-class managed services
A Response To IRS Call for ACA Feedback Read More »
Without much fanfare, a radical data science revolution is taking place inside the Internal Revenue Service [IRS]. And all corporate employers should take note — and take steps not to get caught out by it. From 2010 to 2021, the IRS experienced budget cuts in real terms of 22%, leaving it with outdated technology and a
Regtech Transforming IRS Powers Read More »
There are two series of IRS CODES for ACA reporting & compliance. These codes relate to LINES 14 & 16 of IRS FORM 1095-C, the individual employee form that as health plan sponsors APPLICABLE LARGE EMPLOYERS [ALEs] must complete and distribute to all eligible employees. See here for the difference between FORMS 1095-B & 1095-C. Series 1 Codes:
ACA Reporting: IRS Codes Explained Read More »
As we enter the final straight for TY23 filings, the IRS continues to process a backlog of 226J penalty letters for ACA non-compliance in previous tax years. WHAT IS AN IRS 226J PENALTY LETTER? The IRS issues 226J notices when Applicable Large Employers [ALEs] fail to comply with the Employer’s Shared Responsibility Provision [Employer Mandate]
Survival Kit: 226J Penalty Letters Read More »
As IRS filing deadlines approach in the New Year, BENEFITSCAPE takes a look at the hefty penalties for employers missing TY23 ACA deadlines. And we also issue three warnings about some misleading ACA information online. WARNING 1: Some online AI-generated guides to ACA reporting & compliance confuse IRS penalties for late or incorrectly furnished filings [IR
ACA TY23: A Timely Look at ACA Deadline Penalties Read More »
In late August the IRS announced changes to the 2024 health plan affordability threshold. [See IRS Rev. Proc. 2023-29.] This is the measure used to determine if an employer’s lowest-premium health plan meets ACA affordability requirements. The 2024 threshold will be 8.39% of an employee’s household income. That is significantly down from this year’s 9.12%
What does IRS affordability change mean for TY24 ACA compliance? Read More »
