File Your 2024 ACA 1095 Forms with TaxBandits – Now Accepting Filings!
As we move into the 2024 tax year, employers and Applicable Large Employers (ALEs) are gearing up for Affordable Care Act (ACA) reporting requirements. TaxBandits is excited to announce that we are now accepting ACA 1095 forms, making it easy for you to meet the IRS and state requirements efficiently and accurately.
Here’s everything you need to know about ACA Form 1095 filing for 2024 and how TaxBandits can simplify the process.
ACA Reporting and Tax Compliance: Ensuring Employers Meet Their Requirements
The ACA imposes several tax compliance requirements on employers, especially those designated as ALEs, to ensure employees have access to health insurance.
- Form 1095-B and 1094-B: This form reports the individual’s minimum essential coverage (MEC) as per the ACA. You must file 1095-B with the IRS, and a copy must be issued to the recipients.
- Form 1095-C and 1094-C: This form is filed by ALE with 50 or more full-time equivalent employees to report their employees’ health coverage information to the IRS, and a copy of Form 1095-C must also be issued to the employees.
What’s New in ACA Reporting for the 2024 Tax Season?
There are no significant changes to the forms or instructions about ACA reporting for the 2024 tax year. However, several other changes have been implemented, including penalties for non-compliance with the ACA reporting requirements, updates on affordability percentages, and adjustments to ACA penalty rates for the 2024 tax year.
To learn more about the ACA 1095 changes for the 2024 tax year, click here.
Critical ACA Reporting Deadlines for the 2024 Tax Year
The deadline to file 1095 forms for the 2024 tax year is as follows:
- Electronic filing: March 31, 2025
- Employee copy distribution: March 03, 2025
- Paper filing: February 28, 2025
File Your 1095-B/C Forms Before Tax Season with TaxBandits
You can prepare Forms 1095-B and 1095-C in advance using TaxBandits and schedule your filing. These forms will be transmitted to the IRS and SSA on January 10, 2025, when their processing window opens for the year. During this time, you can review and edit the forms as needed. This flexibility allows you to make necessary changes, ensuring that all information is accurate before filing the forms.
Time-saving Features for ACA Forms Filings!
For the 2024 tax season, TaxBandits has several features to streamline the ACA form tax filing process for employers. When you are planning ahead to file your 1095 -B/C forms, TaxBandits has everything you need to ensure accurate and timely filing.
- Enhanced User Interface: The platform’s interface has been redesigned for improved navigation, making it easier for users to access forms, manage clients, and find relevant tools quickly.
- Bulk Upload Option: Transform how you handle your ACA Form 1095-B/C data with our 1095 Excel templates. Say goodbye to tedious manual entry and hello to seamless bulk imports that save you time and effort.
- Supports State-Only ACA Filing: TaxBandits offers support for state-only ACA filings for employers in states that have their own ACA reporting requirements. This feature allows you to fulfill state-specific reporting obligations for ACA forms, even if federal filing is unnecessary. The supported states include California, New Jersey, the District of Columbia, Rhode Island, and Massachusetts.
- Supports 1094-B/C Transmittal: Take your ACA form tax filing experience to the next level with our software. We make filing your transmittal Form 1094-B/C easy as you submit Form 1095-B/C with TaxBandits.
- Employee Copy Distribution: We securely distribute the ACA forms copies to the recipients through postal mailing or online access secure portal.
- Data Security: TaxBandits is SOC-2 certified, providing top-tier security and privacy protection for your data.
Exclusive Feature for Tax Pros: BanditCollab
BanditCollab is a practical collaboration feature specifically designed for employers using TaxBandits. This feature enables multiple team members to work seamlessly within a secure platform, making managing and filing tax forms easier. By allowing teams to collaborate effectively, this tool enhances the efficiency and organization of tax filing for your business.
Kickstart Your Journey to a Successful Tax Season Today!
For over a decade, employers have trusted TaxBandits to handle the filing of their ACA forms. With dedicated customer support, specialized features for tax professionals, and the flexibility to file ACA forms 1095-B and 1095-C, TaxBandits makes filing simple and reliable.
Start your ACA filing now and beat the deadline! Start filing to stay ahead of the tax season rush – TaxBandits is here for you.
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