The ACA Times


  Show menu
  • Home
  • Articles
  • Get to Know the ACA
  • ACA – Frequently Asked Questions
  • Resources
  • Meet the Editors
  • Trusaic
  • Contact Us
  • Legal
  
  • Home
  • Affordable Care Act
  • 5 Reasons Why ACA Reporting is So Difficult for Employers This Year

Articles

5 Reasons Why ACA Reporting is So Difficult for Employers This Year

April 18, 2016 Robert Sheen Affordable Care Act, Applicable Large Employer (ALE), IRS
5 Reasons Why ACA Reporting is So Difficult for Employers This Year

For many employers, this is their first year reporting employee health care coverage as part of the Affordable Care Act. Required employers include those that are ALEs,or Applicable Large Employers with 50 or more full-time employees and equivalents.

The reporting appears simple at face value but in execution, the process was not due to several reasons. Well before the close of last year, the IRS released drafts of Forms 1095/1095-C and Forms 1094/1095-B with instructions. In September of 2015, the final forms were released and many employers chose that day to begin modifying their systems with necessary programming changes. This produced significant errors, and while the IRS allows for a margin of error in reporting, the delay by employers and their vendors in modifying their systems contributed to this. Further, many employers lacked a true understanding of what the aforementioned forms entailed. Aggregating data posed another problem for employers, as collecting employee information for these forms proved to be challenging, especially with information scattered among various employer data applications. Even those third party vendors who offered assistance to employers encountered their own difficulties, as many of them also lacked understanding in all of the nuances of ACA reporting and had ill equipped systems to address the ACA’s reporting requirements.

While the preparation of the forms had its share of problems, the e-filing of these forms with the IRS appears to prove to be equally troublesome. The implementation of a Transmitter Control Code (TCC) for the Affordable Care Act Information Returns Program (AIR) was issued to one or multiple parties for reporting. However, the AIR system continues to be upgraded, requiring employers and their vendors to keep up with the upgrades.

The ACA Times, in conjunction with Trusaic, provides articles highlighting valuable information for employers and ACA reporting. As employer head into the next tax year, should employers still have questions on ACA reporting, they are urged to check the ACA Times.

To learn more about ACA compliance in 2021, click here.


We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance. For questions about the ACA contact us here.

Short URL of this page: https://acatimes.com/uwr
Robert Sheen

Robert Sheen

Robert Sheen, Esq., is editor-in-chief of The ACA Times. He also is founder, president and CEO of Trusaic.

Robert Sheen is Founder and President of Trusaic, Inc. Robert is a graduate of the University of Southern California, in Business Administration with an emphasis in International Finance. He earned his Juris Doctor from Loyola Law School, Los Angeles, concentrating in Tax Law.

View more by Robert Sheen

Related tags to article

E-filingTCCTimes
Related Articles How to Leverage Your Workforce Data to Meet DEI Goals How to Leverage Your Workforce Data to Meet DEI Goals
Related Articles An Employer’s Guide to Navigating the DEI&A Landscape An Employer’s Guide to Navigating the DEI&A Landscape
Related Articles Governments, Investors, & Litigators Are Focusing More on ESG Governments, Investors, & Litigators Are Focusing More on ESG
Sorry, no posts were found.
Subscribe

Popular Posts

  • California Individual Mandate Penalties Will be Issued in 2021
  • Biden’s Affordable Care Act Advancements are Underway
  • What Employers Need to Know About the 2020 ACA 1095-C Codes
  • Employers May Face Additional Challenges with 2020 ACA Reporting
  • Five Resources Essential for ACA Compliance in 2021
  • The IRS is Issuing ACA Penalty Letter 226J for 2018
  • Most Frequently Asked ACA Questions for Employers and Individuals

Trending Topics

  • Regulations
    (91)
  • Legislation
    (47)
  • Editorials
    (19)
  • ACA Compliance
    (126)
  • Tax Filings
    (19)
  • Applicable Large Employer (ALE)
    (13)
  • Penalties
    (18)
  • IRS
    (82)
  • Health Insurance Marketplace
    (28)
  • Polls/Surveys
    (18)
  • Health Care Reform
    (22)
  • Reporting
    (22)
  • IRS 226J/226-J
    (28)

Categories


Brought to you by Trusaic

 

 

 

Twitter Facebook

Downloads

The ACA 101 Toolkit

The Essential Guide to the ACA

Letter 226J Infographic

5 Common ACA Compliance Mistakes

Triangle of Trust

Articles

IRS Affordability Safe Harbors Help Avoid ACA Penalties

Calculating FT and FTE Employees

The ACA Monthly Measurement Method: A Few Examples

The IRS’s 1095 Forms for ACA Explained

Incorrect ITINs Will Cause Havoc With ACA Compliance

Knowledge Center

Get to know the ACA

Get to know Letter 226J

Webinar: The Recipe for Successful ACA Compliance

Trusaic News

Our Story

© 2021 Copyright Trusaic - All Rights reserved.

Close Window

Loading, Please Wait!

This may take a second or two. Loading, Please Wait!