What Do the ACA IRS E-Filing Statuses Mean?
Points North • May 14, 2019
You’ve completed your IRS 1095-C forms for a tax year, submitted them with the 1094-C form to the IRS electronically through e-Filing, and have received a “status” response from the IRS. What does that status mean?
t’s important to note that if submissions were rejected due to formatting, employers should NOT mark the original submissions as corrected when resubmitting. Corrections only take place when you are changing actual data elements from your 1095 or 1094 forms, such as employee names, SSNs, etc.
Understanding the IRS e-Filing statuses is key to a successful ACA processing, and utilizing a reputable software vendor that’s familiar with them (and the data elements that lead to them) can help to make a confusing process far more simplistic.
t’s important to note that if submissions were rejected due to formatting, employers should NOT mark the original submissions as corrected when resubmitting. Corrections only take place when you are changing actual data elements from your 1095 or 1094 forms, such as employee names, SSNs, etc.
Understanding the IRS e-Filing statuses is key to a successful ACA processing, and utilizing a reputable software vendor that’s familiar with them (and the data elements that lead to them) can help to make a confusing process far more simplistic.
Disclaimer: The information provided within is for general informational purposes only. It does not necessarily address all of your specific questions or issues. It should not be construed as, nor is it intended to provide, legal advice. Questions regarding specific issues and application of these rules to your 1095-C reporting should be addressed by your legal counsel.
Once employers have familiarized themselves with the ACA obligations, they should also know of the penalties associated with non-compliance. Identifying and paying for full-time employees is fairly easy because of the straightforward details of their job but for variable hour employees’, it is not as simple. Some organizations make use of the ‘limiting’ strategy to manage such schedules but this strategy as its own set of problems. Problems such as workforce scheduling and variable labor requirements are factors that make this strategy impracticable. We’ve combined some of the best ways to ensure ACA compliance in this article and examined how ‘guidance’ can help you limit penalties.
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Due to the complexity of the process, utilizing a reputable software vendor to file your 1094/1095 data electronically with the IRS is considered to be a best practice. One reason for this is that if it turns out that there’s a problem with some of your ACA data, the IRS doesn’t necessarily make it easy to figure out what went wrong.
Employers often have to face complex issues regarding employee withholding taxes. This gets even more challenging when employees on their payroll, earn a mix of regular and non- standard income.
We are dedicated to helping our clients navigate the complexity of ACA and employee eligibility reporting. Below you will find information regarding whether or not all employers are required to e-File with the IRS.