Navigating the IRS E-file Mandate: A Guide to E-filing ACA 1095-B/C Forms with TaxBandits

The IRS E-filing thresholds will impact ACA reporting for the 2023 tax year, learn how:

As the IRS tightens restrictions on paper form filing, businesses, and insurance providers may feel the impact concerning their upcoming ACA reporting deadlines.

The Affordable Care Act (ACA) mandates that certain entities offering health coverage must file 1095-C and 1095-B and distribute recipient copies of 1095 Forms annually. 

In this blog post, we’ll explore the impending deadlines and how TaxBandits, an IRS-authorized e-file provider, simplifies the e-filing process.

Understanding ACA Reporting Requirements:

Under ACA regulations, 1095 Forms serve as a crucial tool for reporting information about health insurance coverage offered to employees or covered individuals throughout the tax year. With the March 1, 2024 deadline for distributing recipient copies and the April 1, 2024 deadline for electronic filing with the IRS, businesses must ensure they meet these key milestones.

Mandated E-filing and Its Implications:

The IRS now mandates electronic filing for entities handling more than 10 of any information return type, making it imperative for businesses to choose an IRS-authorized e-file provider. This shift emphasizes the need for a streamlined approach to ACA reporting.

TaxBandits: Your Solution for Simplified E-filing:

TaxBandits, recognized as an IRS-authorized e-file provider for payroll and employment tax forms, offers a seamless solution for e-filing and distributing ACA Form 1095-B & Form 1095-C. Here’s why TaxBandits stands out:

  • No TCC Needed: Say goodbye to the hassle of acquiring a Transmitter Control Code (TCC). TaxBandits takes care of this essential step for you.
  • Bulk Upload Templates: Bring your 1095 filing information effortlessly to TaxBandits using the provided 1095 Excel templates, ensuring smooth form generation for any volume.
  • Built-in Error Checks: The TaxBandits application includes IRS Business Rules, minimizing common errors and enhancing the overall accuracy of the filing process.
  • Instant Status Updates: Stay in the loop with notifications via email and directly in your account, tracking your forms from transmittal to acceptance. Correct and retransmit rejected returns at no extra cost.
  • ACA State Filing: Beyond IRS filing, TaxBandits supports filing with states that require it, offering a ACA state-only filing option.

Recipient Copy Distribution Made Easy:

TaxBandits goes the extra mile to simplify recipient copy distribution:

  • Postal Mailing Services: Let TaxBandits handle the distribution task, ensuring all copies are printed, mailed from a SOC 2 Certified facility, and validated by USPS.
  • Secure Online Access: Opt for online access, providing employees/recipients with a secure portal to retrieve forms anytime, anywhere, reducing the need for additional copies.

TaxBandits not only simplifies the ACA e-filing process but also ensures a smooth journey through recipient copy distribution. Stay ahead of the compliance curve and simplify your business’s last-minute ACA reporting with TaxBandits.

tax year 2023 e-filing

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