Year End - Prerequisites 1094-C

30 01, 2017

[VIDEO] What you need to do before e-filing?

2018-04-18T15:31:15+00:00 January 30th, 2017|0 Comments

KB14-055 Before e-filing it is strongly recommended that you: Make sure data is ready to send (1095-Cs and 1094-C for tax year 2016) Validate your 1095-Cs Re-run a year end close if a large number of errors are found or you last ran your year-end close prior to 1-12-2017. (Please note this will overwrite your [...]

17 01, 2017

Download the Retention Package

2017-10-18T14:24:41+00:00 January 17th, 2017|0 Comments

KB14-054 A retention package contains all the necessary information that a company would need should the IRS want to audit 1095-C and 1094-C information. This will include copies of the forms (1095-Cs and 1094-Cs) and the necessary electronic filing information. Generally speaking, it is best to create the retention package once all electronic submissions are [...]

27 05, 2016

Mail and E-File Reporting Requirements for Aggregated ALE with some EIN’s Less than 250 Forms

2017-10-18T14:51:23+00:00 May 27th, 2016|0 Comments

KB14-043 Yes, the employer information reporting requirements are applied separately to each ALE member comprising the ALE, consistent with the approach used to determine any assessable payment. For example, each ALE member is responsible for its own information reporting requirements, and is not responsible for the information reporting requirements of any other entity in the [...]

24 05, 2016

Explanation of why Column (b) of my 1094-C Part III is Blank

2017-10-18T15:01:46+00:00 May 24th, 2016|0 Comments

KB14-041 It is supposed to be 0 if you have selected YES to the last circle on your 1094-C Prerequisite and YES that you are the authoritative transmittal company! This circle is stating that your company offered affordable coverage providing minimum value to 98% of your employees. This means all your employees, both FT and [...]

6 05, 2016

Prerequisite Setup for Multiple Company ID’s but Sharing the Same EIN (Employer Identification Number)

2017-10-18T15:25:26+00:00 May 6th, 2016|0 Comments

KB14-036 Entities sharing the same EIN (Employer Information Number) may be setup as separate companies within the ACA Compliance solution. In some industries this is a common practice – staffing firms like to setup difference companies to handle their permanent staff as opposed to the temporary staff. In these cases two companies are established with [...]

18 11, 2015

Filing as an Authoritative Transmittal for an ALE Group

2017-10-19T10:31:48+00:00 November 18th, 2015|0 Comments

KB13-041 Question: If we have Aggregated ALE Groups, do they need to file their own Authoritative Transmittal? Answer: Yes, each individual company will file their own 1094/1095C and indicate that they are a member of an Aggregated Group (common ownership). Your Aggregated Group of companies may have a separate EIN for each or could have [...]

24 07, 2015

The Cloud 1094-C/1095-C Forms Require No Manual Employer Intervention

2017-10-19T16:49:45+00:00 July 24th, 2015|0 Comments

KB13-024 IRS Form 1094-C is summary information derived from total employee count, ALE status and IRS 1095-C submission. There should be no manual intervention. For IRS Form 1095-C, the least-cost offer of coverage that provides minimum value is used to populate Lines 14, 15 and 16. Depending on the least cost option’s monthly employee contribution for self-only [...]

23 07, 2015

Seasonal Workers in the ALE Count

2017-10-20T10:13:29+00:00 July 23rd, 2015|0 Comments

KB13-017 *Asked of the IRS in a group call on May 15, 2015. “The employer must look at all employees when counting heads for ALE status. However, the regulations provide an exception for seasonal workers – employees who perform labor or services on a seasonal basis as defined by the Secretary of Labor, including retail [...]

23 07, 2015

Yearly Applicable Large Employer (ALE) Determination

2017-10-20T10:20:24+00:00 July 23rd, 2015|0 Comments

KB13-015 An applicable large employer with respect to a calendar year is defined in IRC Section 4980H(c)(2) as an employer that employed an average of at least 50 combined full-time employees and full-time equivalents on business days during the preceding calendar year. The determination of whether an employer not in existence the preceding calendar year [...]