Discover Why Thousands of Employers Trust BoomTax for ACA Filing 1095-B
Deadline for Submitting Form 1095-B in 2024
Understanding the Due Date and Penalties of Form 1095-B
Staying tax compliant-is an integral part of a business.
Non-compliance, such as late or missed submissions, will inevitably lead to fines imposed by the IRS.
This rule holds for all forms, inclusive of Form 1095-B.
This post outlines the submission deadline for Form 1095-B and the consequences of non-compliance.
Furthermore, we provide helpful advice to avoid any penalties.
ACA penalties are typically split into two categories:
Employer Shared Responsibility Payment (ESRP):
This penalty applies to large employers who do not offer minimum essential coverage to at least 95% of their full-time employees (and their dependents),
and at least one of their full-time employees receives a premium tax credit for purchasing individual coverage on one of the health insurance marketplaces.
The ESRP is also known as the "employer mandate" or "play or pay" penalty.
Reporting and Disclosure Penalties:
These penalties are assessed for failing to file required information returns with the IRS or to provide required statements to individuals.
These information returns include Form 1094-C and Form 1095-C, which large employers must file under the ACA's reporting requirements.
BoomTax will streamline your ACA filing process in 3 simple steps!
Import Your Data
You can import your data as Excel, XML, or use files from popular payroll providers like QuickBooks, UKG, ADP, and many more.
We walk you through the process with no complicated jargon. You can also live chat with a real person as you work on your filing for hands-on help.
E-File & Mail Employee Copies
Once your data is loaded, you can e-file and distribute employee copies in minutes.
Create an Account
Despite the best intentions, there may be times when 1095-B may not be submitted on time.
To avoid last-minute rushes, we recommend e-filing Form 1095-B.
This can be conveniently done via BoomTax.
BoomTax is an authorized IRS e-filing service provider.
We support the e-filing of 1095-B.
Compared to paper filing, we can send your tax returns to the IRS within minutes after a quick review.
Even if you're filing on the last day of the deadline, your submission will reach the IRS punctually.
Takes Only 30 Seconds
BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.