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The IRS recently issued draft versions of Forms 1094-B, 1094-C, 1095-B and 1095-C information returns for the 2017 tax year. The Affordable Care Act requires coverage providers to use Forms 1094-B and 1095-B to report health plan enrollment and requires applicable large employers to use Forms 1094-C and 1095-C to report about employer shared responsibility. The Forms also provide relevant information about individual shared responsibility and premium tax credits.
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Categories: Health Care Reform, Compliance, Health Care in General | Tags: Affordable Care Act , ACA , 1094-B , 1095-B , 1094-C , 1095-C , information letter , IRS , Internal Revenue Service , draft , ALE , applicable large employer , Office of Chief Counsel , employer shared responsibility , individual mandate
The Internal Revenue Service (“IRS”) recently released draft instructions (“Draft Instructions”) for completing the 2016 versions of Forms 1094-B and 1095-B. The Draft Instructions follow the release of IRS drafts of the 2016 versions of Forms 1094-B and 1095-B.
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Categories: Health Care Reform | Tags: Draft Instructions , Affordable Care Act , Form 1094-B , Form 1095-B
The Internal Revenue Service (“IRS”) recently released draft instructions (“Draft Instructions”) for completing the 2016 versions of Forms 1094-C and 1095-C. Applicable Large Employers (“ALEs”) (i.e., employers that had 50 or more full-time employees during the preceding calendar year) must fill out these forms to comply with certain Affordable Care Act (“ACA”) mandates pertaining to offers to and enrollment of employees in health insurance coverage. The draft instructions come on the ...
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Categories: Health Care Reform | Tags: 1094-C , 1094-B , 1095-B , 1095-C , Draft Instructions , Draft Forms , Affordable Care Act

Revised Draft Reporting Forms Published

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The IRS has published three revised draft forms that all employers or insurers are to use to report coverage that an employee was enrolled in at any time during 2015 and for a large employer to report its offer of health coverage to its full time employees, enrollment in that coverage and its affordability.
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Categories: Health Care Reform, Compliance | Tags: IRS , Reporting , 6056 , 6055 , Draft

Some HRAs Subject to Employer 6055 Reporting

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Employers that sponsor an HRA that provides minimum essential coverage (MEC) that is not integrated with the employer’s group health plan must report that coverage to the covered individuals on the plan and to the IRS in early 2016 for coverage provided in 2015 under Code Section 6055 reporting.
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Categories: Health Care Reform | Tags: Play-or-Pay , IRS , Draft

IRS Publishes Q&As for Play or Pay Reporting

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The IRS has published two sets of Q&As regarding the Play or Pay reporting requirements for large employers. One set of Q&As deals with the reporting requirements under Section 6055 – that certain individuals were provided coverage.
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Categories: Health Care Reform, Compliance | Tags: Draft , IRS , Play-or-Pay
The IRS has published two draft instruction booklets to assist applicable large employers (ALEs) and their insurers with completion of the four reporting forms required under the Play or Pay provisions of the Affordable Care Act (ACA).
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Categories: | Tags: Play-or-Pay , IRS , Draft , Forms