One of the biggest reasons for the name change, facelift, and all other nips and tucks ExpressTaxFilings has endured becoming ExpressIRSForms is the Affordable Care Act.
“Wait, the Affordable Care Act? You mean Obamacare? What could that have to do with tax filings?” you might ask. Well, for tax filings, not much. But for IRS information return forms, quite a bit: since its passing, the ACA requires providers of health insurance to file IRS forms each year to report the coverage they offered. The form you file depends on your relationship to the covered individual (employer, insurer, 3rd party, etc.) and the type of insurance (self/fully-insured) you provide, and the forms to know are Form 1094-B, Form 1094-C, Form 1095-B, and Form 1095-C.
“That’s nice and all,” you may respond, “but what’s that got to do with ExpressTax- I mean ExpressIRSForms?” Well, ExpressIRSForms now offers e-filing for Forms 1094-B/C and 1095-B/C with the same easy-to-use program and affordable costs you’re used to with your 1099s and W-2s. In fact, if you’ve already been a-filin’ with us this year, you might have noticed these new options under Start New Form:
If you need to file Form 1095-B or 1095-C, you’ll just select the Start Now button. Not sure if you’re a B or a C? No problem: the first thing we’ll do is ask a few questions to determine which one you need to file. Then just like your 1099s or W-2s, you’ll fill in the information of your recipients (either individually or by bulk upload), review, and then pay and transmit your forms.
In future years, you’ll need to get these ACA forms done at the same time as your 1099s and W-2s (recipient forms January 31, paper forms February 28/29, e-filing March 31). But for the first year they’re required (this one), the IRS is offering some leniency. The recipient copies of Form 1095-B or Form 1095-C need to be sent out by March 31. If you’re paper filing your forms, they’re due to the IRS by May 31, and if you’re e-filing, yours must be transmitted by June 30.
Want to know more? We’d be happy to answer any questions you have. Just give us a call at (704) 839-2270 (Monday through Friday, 9 a.m. to 6 p.m. EST) or send us an email at firstname.lastname@example.org. We want to help you make sure this is the best first year for your ACA filing ever!