ACA Reporting Anecdotes

ACA Filing Extensions. Here’s the latest from our ACA-anecdotes desk.

• Many employers seem to be sticking to (or close to) the original February 1, 2016 deadline for issuing Form 1095 to employees. This is largely to avoid confusion with employees.
• Many employers haven’t made a firm decision on whether to file Form 1094 (aka: “cover sheet”) on time or take advantage of the delay.

Some suggestions from us:

• Take your time on Form 1094. This is the form most likely to trigger an audit.
• Start working on that “please sign” memo that will be directed to the ultimate “signer” of your Form 1094. Create a high level summary of your processes that assure accurate reporting.

We are planning an ACA reporting seminar/update for February 5. There will likely be separate web and in-person versions on the same day. Stay tuned for details.