CORPUS CHRISTI, TX / ACCESSWIRE / February 21, 2024 / With the deadline for furnishing Affordable Care Act (ACA) recipient copies now less than two weeks away, employers and health coverage providers are urged to take immediate action to ensure compliance. The ACA mandates that all applicable large employers (ALEs) and entities offering minimum essential coverage (MEC) distribute the required information returns to recipients, such as employees and plan participants, within this timeframe. This upcoming deadline highlights the importance of preparation and timely filing to avoid potential penalties from the IRS.
ACA Compliance Deadline Imminence
Under the ACA, employers and coverage providers are required to furnish copies of the ACA information returns to the recipients, typically employees and plan participants, by the specified deadline. This year, the deadline is looming, leaving a narrow window for compliance.
Failure to comply with the ACA furnishing requirements can result in significant penalties from the IRS. It's imperative for organizations to review their compliance status and ensure that all necessary forms are prepared and ready to be distributed to meet the deadline.
Solutions for Last-Minute Compliance
For those who find themselves behind schedule, BoomTax offers a comprehensive suite of tools designed to streamline the ACA reporting process. Our platform supports Forms 1095-B and 1095-C, facilitating swift and accurate preparation and distribution of recipient copies.
By leveraging BoomTax's user-friendly interface and robust support resources, employers can ensure compliance with ACA requirements efficiently, even as the deadline draws near. Our goal is to minimize the stress of tax season and help our clients avoid potential penalties associated with late or incorrect filings.
About BoomTax
Based in Corpus Christi, Texas, BoomTax is a top provider of tax compliance solutions, aimed at simplifying and optimizing the tax reporting process for businesses. Featuring a user-friendly interface, BoomTax supports an extensive variety of forms, including the Form 1099 series (MISC, DIV, INT, NEC), W-2, 1095-B, 1095-C, and California Pay Data Reporting.
BoomTax provides customized solutions for each of these forms, assisting companies in fulfilling their compliance requirements with accuracy and efficiency. Through the integration of cutting-edge technology and outstanding customer support, BoomTax is committed to easing the tax reporting process for businesses, regardless of their size.
Media Contact:
Ken Ham
pr@boomtax.com
SOURCE: BoomTax
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