ACA Reporting Program
ACA Elevate – 6055 & 6056 Reporting
MichBusiness
719 Griswold Street, Suite 630
Detroit, MI 48226
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The ACA remains the law of the land for 2024
2024 ACA Reporting and Filing
The Affordable Care Act (ACA) imposes demanding information reporting responsibilities on employers in the 2024 calendar year. The reporting stipulation states that an information return will be prepared for each applicable employee, and these returns must be filed with the IRS using a single transmittal form (Form 1094-B & 1095-B or Form 1094-C & 1095-C). The filing requirements are based on an employer’s health plan and number of employees. Inability to file or report correctly will result in numerous and expensive fines for employers.
Noncompliance is Expensive…
- IRS can assess $280 penalty per return for late, incomplete or incorrect forms. Also, if the IRS determines that the failure to file is the result of intentional disregard, the penalty is $570 per return without limitations.
- The IRS has started enforcement of the ACA employer mandate penalties. Don’t risk non-compliance and hefty fines. Contact BASIC today to ensure you comply with the 2023 Reporting requirements.
BASIC’s ACA Elevate – A Simple Solution to a Complex Problem
- Take away the stress and complexity of ACA coding with assistance from our compliance experts
- Works off of a simple MS Excel workbook upload with employee and coverage data at year-end. Focus on key deliverable’s for employers with simpler reporting needs. Perfect stand-alone solution for companies who don’t want to pay extra to upgrade their payroll platform
- Real time access to training videos and Q&A guide, your ACA workbook, and the ability to view draft forms and make changes online anytime
- Automatic access to eFiling with the IRS, plus mailing services and streamlined corrections process available
- BASIC’s experienced compliance team will answer your questions and guide you through the whole process with minimal work involved on employer’s part
For more information or to speak with a sales consultant call 800.444.1922 x 3 or visit basiconline.com.