2020 ACA Reporting and Filing
The Affordable Care Act (ACA) imposes demanding information reporting responsibilities on employers in the 2020 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).
Noncompliance is Expensive…
- IRS can assess $260 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 $530 per return without limitations.
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 is answering your questions and guiding 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.