E-file ACA Corrections with ExpressIRSForms

After all that hassle in June, it’s likely the last thing you want to hear about as you’re trying to enjoy the rest of your summer is your ACA return. The forms were sent, the IRS has got ‘em, and they’re not doing penalties this year anyway, right? Why give it another thought before it’s time to do next years?

Well, for one, you probably shouldn’t assume that just because your return has been sent to the IRS that there’s nothing left to do. Because even if the IRS is waiving penalties this year, they’re only doing that for those who prove they made good faith efforts to file correctly.

Even if you’ve sent in your 1094 and 1095 forms, they could be accepted with errors or rejected altogether. And if you don’t do anything to amend them, it doesn’t really look like you made the effort to file correctly.

So, after you e-filed with ExpressIRSForms, you should’ve received an e-mail from us once the IRS processed your forms letting you know the outcome of your return. It would have either said “Accepted,” “Accepted with Errors,” or “Rejected.” If your return was accepted, you’re in the clear; if it was accepted with errors or rejected, you’ve got some work to do.

Thankfully, you initially filed with ExpressIRSForms, so you’ve got access to the easiest correction process in the biz. Just log back into your account and find the ACA return in question. Click the blue Employee(s) box, and you'll see a breakdown of which forms were accepted and which have errors. Click on "View Errors" to see an explanation and link to fix each error.

From there all you have to do is make the necessary corrections and resubmit your return. It’s that easy!

But just in case you have any questions along the way, our all-star customer support team is here to help. You can give us a call (704-684-4751) or send us a live chat Monday through Friday, 9:00 a.m. to 6:00 p.m. ET. We’re also happy to help 24/7 via our email support - support@ExpressIRSForms.com!

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Tax Tips for Summer

Well, we’re halfway through July, and it’s safe to say the heat’s not going anywhere soon. Summer is in full swing, and the last thing on your mind is your taxes. But we’re here to suggest that you set aside an afternoon to take advantage of some of these tax tips for the off-season that could save you time, money, and headaches come next April:

If You Still Owe Taxes
You’ll know if you still owe the IRS a tax payment if they send you a bill by postal mail. If you get a call or email demanding that you owe the IRS money, do not give them any information; it’s probably a scam. If you really do owe the IRS, they’ve provided some ways to help you make your payment:

• Using IRS Direct Pay, which you can access by clicking “Payment” on the IRS website, so you don’t have to worry about mailing payments.
• The IRS also offers payments plans, installment agreements, and offers in compromise, which you can apply for online to help you make your payments.

If You’re in the Military
Did you know that if you’re in the US Armed Forces, special circumstances can apply to your taxes? You could be able to claim a lower tax if certain rules apply to your deductions or credits, and some types of pay may not even be taxable. You’re also eligible for some deadline extensions and other “tax perks” as an appreciation gesture for your service, like:

• Combat pay exclusions,
• Moving expense deductions,
• Earned Income Tax Credit (EITC),
• Reservists’ travel deductions,
• Uniform deductions,
• ROTC allowances,
• Civilian life deductions,
• and IRS tax help.

If You Get Married
Summer is definitely the time for weddings. And if you get married this summer, there are a few things to take care of before you do your taxes next year. You’ll need to make the IRS aware of any name or address changes, as well as any changes in your tax withholding, health insurance circumstances, filing status, and usual tax form.


Be sure to check back with ExpressIRSForms for more tax and e-filing tips! And if you have a business you need to handle 1099s, W-2s, ACA forms, or W-9s for, we’re your program! Check out www.ExpressIRSForms.com for more info. We’re also available by phone to take your questions, Monday through Friday, 9:00 a.m. to 6:00 p.m. EDT, at (704) 684-4751.

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Miss the ACA E-filing Deadline?

Now that we’re almost halfway through July, the dust is finally starting to settle from the Affordable Care Act e-filing deadline that was June 30. If your return has come back with errors and you need to make corrections, ExpressIRSForms is the place to be. We’ve been on top of the ins and outs of ACA reporting since Day One.

Hm, what’s that? You haven’t filed yet at all?

Well, while we can’t really say that’s okay, there’s no need to start fretting over being late now. You may not be at the corrections stage like most filers, but ExpressIRSForms can still help!

First Off, There Are No Late Filing Penalties for the 2015 Tax Year
Although the IRS extended the actual deadlines for ACA Forms 1094 and 1095 (from March 31 to June 30) for the 2015 tax year, they realized there would still be many businesses that needed more time to power through the confusion of these new regulations and forms.

That’s why the IRS also announced earlier this year that if you can provide evidence that you made attempts to file on time but were delayed for whatever reason, they’ll forgive any late-filing fees you would have otherwise incurred. The big thing here though is that you still need to submit a completed (or as close to completed as possible) return to the IRS to show your good faith efforts.

Which is Where ExpressIRSForms Comes In
As an online, cloud-based program authorized by the IRS to e-file information returns, ExpressIRSForms is up, running, and able to be used anytime you need to access your account. That means that even weeks after a deadline, you can e-file your forms directly with the IRS. Additionally, our expert customer support team is available throughout the year, not just during tax season, to answer your questions from our base in Rock Hill, South Carolina.

To e-file your ACA Forms 1094 and 1095 with ExpressIRSForms, simply create an account on our website. From there, select the ACA forms option in the “Create New Forms” section. The program will then guide you through, step by step, until you’ve filed your return with the IRS.

If you have any questions or need help getting started, give us a call! We’re in the office Monday through Friday, 9:00 a.m. to 6:00 p.m. ET, where we’re available by live chat through www.ExpressIRSForms.com or at (704) 684-4751. Have a question after hours? We respond to questions sent via email 24/7! Just send a message to support@ExpressIRSForms.

Happy filing!

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Employer Health Care Arrangements

In order to be compliant with the new Affordable Care Act laws, many employers had to begin offering health insurance that met the minimum essential coverage (MEC) requirements to their full-time employees. In lieu of offering traditional insurance, some employers instead came up with employer health care arrangements wherein their employees’ coverage was taken care of, just not in the traditional sense of providing self- or fully-insured plans.

Unfortunately, employer health care arrangements aren’t what the writers of the ACA had in mind when they said, “provide coverage.” Here are a few questions we’ve received regarding these employer health care arrangements:

What if I don’t establish a health insurance plan for my employees but instead reimburse them for the premiums they pay for their own qualified health insurance?
According to the IRS, this sort of arrangement is considered an employer payment plan. Because employer payment plans generally don’t include an arrangement through which the employee may have an after-tax amount applied toward their health coverage (or have the opportunity to take that amount as a cash compensation).

The IRS notice goes on to explain that these employer payment plans are considered to be group health plans subject to market reforms, meaning that they cannot be integrated with individual policies to satisfy the market reforms. If the arrangement cannot satisfy the market reforms, you could be subject to $100/day excise tax per applicable employee.

Is there any transition relief for employers who did offer their employees health coverage through arrangements like an employer payment plan?
Yes. Last February, the IRS issued this notice, which provides transition relief from the excise tax described above. The transition relief applies to employer healthcare arrangements that are:

• employer payment plans sponsored by an employer who is not an Applicable Large Employer (ALE)
• S corporation healthcare arrangements for 2% shareholder-employees
• Medicare premium reimbursement arrangements
• TRICARE-related health reimbursement arrangements (HRAs)

E-filing with ExpressIRSForms
The deadline to e-file your 2015 ACA return was yesterday (June 30). However, if you haven’t filed yet, you can still do so through your ExpressIRSForms account. For questions or help getting started, give us a call at (704) 684-4751 or send us a live chat or an email to support@ExpressIRSForms.com.

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How to Claim a Small Business Health Care Tax Credit

Last week, we asked if your small business was eligible for a health care tax credit. Today, we’re going to answer some of your questions about obtaining that tax credit.

How does an employer claim the credit?
If you’re a small business owner, you can claim the credit on your annual income tax return. You’ll also need to attach Form 8941, Credit for Small Employer Health Insurance Premiums. This form shows your calculation of the credit.

If an employer’s tax-exempt, how would they claim the credit?
If you’re a tax-exempt business, as described in sections 501(c) and 501(a), you can claim the credit by filing Form 990-T (Exempt Organization Business Income Tax Return) with Form 8941. Even if your business doesn’t normally file Form 990-T, you’ll need to file this form to claim the credit.

Can I use this credit to offset my alternative minimum tax (AMT) liability?
Yes; the short answer is that the credit can be used to offset your AMT liability. However, this is subject to certain limitations based on the amount of your regular tax liability in addition to your AMT liability and other allowable credits. For the long answer, consult section 38(c)(1) of the IRS’s Internal Revenue Code.

Can the credit be reflected in determining my estimated tax payments for the year?
Yes, another short, sweet answer directly from the IRS.

Does taking the credit affect my deduction for health insurance premiums?
Again, yes. When you determine your allowable deduction for health insurance premiums, you’ll need to subtract the amount of the credit from the amount of premiums that can be deducted. This way, you can claim both a credit and partial deduction for the same premium payments.

E-filing with ExpressIRSForms
Remember: today’s the last day to e-file your ACA return with the IRS and still be considered on time. You can e-file your ACA forms through your ExpressIRSForms account. And if you have any questions, we’re available by phone (704-684-4751) and live chat Monday through Friday, 9:00 a.m. to 6:00 p.m. ET. We’re also available 24/7 at support@ExpressIRSForms.com.

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Determining Full-Time Employees Under the Affordable Care Act

This week, we’ve been talking primarily about how to properly calculate the amount of full-time equivalent employees (FTEs) you have working for you and their total number of hours worked as well as average annual wages as directed by the IRS. But as you begin looking at your employees, you may find yourself asking if there are certain workers that you should consider in your totals. So today we’re going to take a look at whether or not certain employees should be included in your total full-time employee count.

Seasonal Workers
When calculating your employees’ hours, seasonal workers generally will not factor into your total FTE count or average annual wage. Seasonal workers only perform labor or provide services on a seasonal basis, like retail workers who’re employed exclusively during holiday seasons. According to the IRS, it’s up to you to determine by a “reasonable, good faith interpretation of the term ‘seasonal worker’” who your seasonal workers are. Just keep in mind that if your seasonal worker provides services for more than 120 days during the year, they will need to be included in your total count.

Part-time Employees
Unlike seasonal workers, part-time employees are included in your total FTE count and average annual wage for the tax year. So include them when you’re tallying up your employees’ hours to determine how many FTEs you employ.

Leased Employees
Leased employees, like temps, are those employees you have who aren’t employees of your company but are providing services for your company through an agreement you’ve made with the organization who leases their services. When you calculate your FTE total and average annual salary, you will need to include your leased employees.

E-filing with ExpressIRSForms
Be sure to hurry and submit your ACA return with ExpressIRSForms as soon as possible - the deadline is tomorrow, June 30! If you have any questions or need assistance with your filing, you can contact our expert support team by live chat or phone (704-684-4751) Monday through Friday, 9:00 a.m. to 6:00 p.m. ET or send us an email anytime to support@ExpressIRSForms.com.

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Full-Time Employee Service Hours: How to Add Them Up

Yesterday, we gave you the basic formula for calculating your employees’ total hours worked so that you could assess how many full-time equivalent employees (FTEs) you employ. It’s important to know the exact number of FTEs working for you for the sake of filing your Affordable Care Act return. When totaling your employees’ hours worked, you’ll want to make sure you’re calculating them in one of the three IRS-allowed ways to ensure your ACA compliance.

Before we get down to the types of calculation, let’s clarify what’s included in hours of service. Obviously, it’s hours spent working by the employee, but hours of service also include hours for which the employee is paid for:

• vacation or holiday,
• illness or incapacity (including disability),
• layoff,
• jury duty, and
• military duty or leave of absence.

When calculating your total hours of service, do not include hours for seasonal employees (who work less than 120 days).

Actual Hours Worked
The most straight-forward method, the Actual Hours Worked calculation method determines the actual hours of service from records of hours your employees worked and were paid. So if your payroll records indicate an employee worked 2,000 hours and was paid for an additional 80 hours (for vacation, holiday, and illness leave), the employee would have worked 2,080 hours of service for the year.

Days-Worked Equivalency
If you use the Days-Worked Equivalency method, you’ll credit an employee with eight hours of service for each day the employee was required to work at least one hour of service, including hours of paid leave. In other words, if you use this method and you have an employee who works from 8:00 a.m. to 12:00 p.m. each day for 200 days, the employee would be credited with 1,600 hours of service (8 hours for each day worked, multiplied by 200 days).

Weeks-Worked Equivalency
This method is a little similar to our previous one, only it goes by weeks instead of days. When you use the Weeks-Worked Equivalency method, you credit an employee with 40 hours of service for each week for which payment is made or due (including weeks of paid leave). For example, if you have an employee who worked 49 weeks and took two weeks of vacation with pay, the employee must be credited with 2,040 hours of service (51 weeks x 40 hours/week).

E-filing With ExpressIRSForms
When you e-file with ExpressIRSForms, you have access to our full-time employee calculator, making your ACA e-filing that much easier. To get started, just create an account, then follow the steps to generate and e-file your forms. If you run into any problems or have a question, you can give our expert customer service team a call at (704) 684-4751 Monday through Friday, 9;00 a.m. to 6:00 p.m. ET or send us an email anytime to support@ExpressIRSForms.com.

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