Act Now: Today is the Deadline for Your Business’s 1099 and ACA 1095 Forms

Time is of the Essence! Today marks the major deadline for the 1099 and 1095 Forms. Stay compliant and file on time

Stephanie Glanville | April 1, 2024 | Read time: 7 minute(s) | ACA Forms, Deadline, Form 1099 Series | No Comments

Today marks the major deadline for the 1099 and ACA 1095 Forms. Stay compliant and file on time!

For tax professionals and business owners across the country, April 1st is a significant day. In addition to Applicable Large Employers (ALEs) completing Forms 1095 electronically and filing them with the IRS, all payers (apart from the 1099-NEC) must complete other 1099 Forms. E-filing your Forms on time ensures tax compliance and avoids any penalties.

Whether you are searching for a last-minute e-filing solution for these forms or cannot file them on time with the IRS, TaxBandits has options to help you file properly to prevent any IRS penalties.
In this blog, let’s talk about the 1099 and 1095 forms that need to be filed today, April 1, 2024

1099 Forms: Reporting Various Types of Payments

The 1099 series covers a wide range of payments made by businesses throughout the tax year, all of which need to be reported to the IRS.

Small business owners or employers must prepare and file the applicable 1099s with the IRS before the 1099 deadlines; otherwise, it will result in hefty penalties for late submissions or incorrect information will be imposed. So, to stay tax compliant, you must file the 1099 Forms Today.

The following 1099 Forms must be filed with the IRS Today, the good news is that TaxBandits supports them all:

Form 1099-MISC
Form 1099-R
Form 1099-S
Form 1099-B
Form 1099-INT
Form 1099-DIV,
Form 1099-K
Form 1099-C
Form 1099-SA
Form 1099-OID
Form 1099-PATR
Form 1099-G
Form 1099-Q
Form 1099-A
Form 1099-LTC

ACA 1095 Forms: Affordable Care Act (ACA) reporting

ACA Forms 1094-B/C,1095-B, and 1095-C must be filed by various businesses, including, but not limited to, Applicable Large Employers (50 or more employees), CPEOs, PEOs, government agencies, and health insurance providers. Fortunately, the good news is that TaxBandits supports all ACA 1095 Forms!

Forms 1095-B and Form 1095-C are used for ACA reporting with the IRS. These forms provide the health insurance information the IRS requires under the Affordable Care Act.

This includes whether the employee or person was provided coverage, how many months out of the year they were covered, and other details confirming the cost of the offered health coverage.

The time is ticking since the deadline to file 1095-C and 1095-B Forms is Today, April 1, 2024.

Form 8809- Extension for Information Returns

Form 8809 is an extension form used to extend the Time to file information returns. If you can’t meet your deadline, you have an alternative. You can get an additional 30 days to finish and file your ACA 1095 Forms and 1099s by filing an 8809 Extension to the IRS.

This is an automatic extension, so as long as you file an accurate form on or before the deadline, the IRS will grant your extension, which, in this case, is April 01, 2024.

It is important to note that filing Form 8809 for an extension of either Form 1099-NEC or Form W-2 will only be accepted in an emergency. In this particular case, it is not automated. Refer to Line 7 on the Form 8809 for further details. It’s also crucial to remember that the IRS deadline for filing Forms 1099-NEC and W-2s has passed; these forms had to be filed by January 31, 2024.

TaxBandits: Last Minute Filing Solution for 1099 and 1095 Forms

Today is the deadline for filing 1099 and 1095 Forms, so choosing TaxBandits for your e-filing needs is not just about meeting requirements—it’s about welcoming efficiency and peace of mind. TaxBandits understands the pressure of last-minute filing, so we offer solutions tailored to ease the process and ensure compliance.

Cost-Effective Solution: TaxBandits presents a cost-effective solution tailored specifically for E-filing 1099 Forms, ACA Forms 1095-B, and 1095-C, ensuring businesses’ compliance with tax regulations. TaxBandits streamlines the filing process, minimizing the time and resources required to complete 1099 and 1095 form submissions.

Streamlined Bulk Uploads: Businesses and tax professionals required to file numerous 1099 forms on behalf of many clients can take advantage of bulk filing. TaxBandits provides a bulk upload template that can be completed and uploaded to the application for bulk filing. Similarly, bringing your ACA 1095 information into TaxBandits is relatively straightforward. Simply download the ACA 1095 Excel templates, fill in the information, and upload it to your account.

Comprehensive Compliance: TaxBandits clients can trust the platform’s steadfast dedication to compliance on this crucial day. Our platform is crafted for precision to ensure strict adherence to IRS regulations and dodge potential penalties with confidence. Discover secure online access services for electronic distribution or choose postal mailing services as a simple alternative.

Exceptional Customer Support: TaxBandits’ dedication to outstanding customer service is evident as the clock runs out. A personalized approach guides clients through the filing process, offering communication channels such as email, phone, or Live chat options. These channels ensure prompt assistance directly from knowledgeable team members, which is especially crucial on this deadline day.

Today is the day to entrust TaxBandits with your last-minute e-filing demands. Sign in or create your free account now to beat the deadline!