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What You Need to Know About 2016 ACA ALE Requirements

By Christopher Coble, Esq. on March 29, 2016 | Last updated on March 21, 2019

As a small business owner, you've already got to worry about everything from inventory and advertising to hiring and firing. And now that Obamacare is in full effect, that's just one more pan in your ever-more-crowded fire. Two provisions of the Affordable Care Act (ACA) only apply if you're an "applicable large employers" (ALE). So how do you determine if you're an ALE? And how do you comply with the ACA if you are?

ACA deadlines are fast-approaching (the 2015 Form 1095-C, Employer Provided Health Insurance Offer and Coverage, is due March 31), the mandatory IRS forms can be complicated, and the information required is extensive. So if your small business has more than 50 full-time employees, you've got a lot of questions to answer. Luckily, you don't have to answer them alone: a new special report from Thomson Reuters Checkpoint can help. (Disclaimer, Thomson Reuters is the parent company of FindLaw.)

What Is the ACA ALE Special Report?

The ACA ALE Special Report addresses the new IRS Forms 1094-B/1095-B and 1094-C/1095-C required under the ACA and used to report offers of, and enrollment in, health care coverage for ALEs. Because the information covered in these forms is due in the first half of 2016, small businesses and their tax professionals have little time to get familiar with the new requirements and gather all of the information needed.

The report can bring accounting, auditing, and tax professionals up to speed on the new ACA provisions and forms, as well as the penalties for noncompliance. In just eight pages, your team will know how to submit the forms to the IRS, when deadlines are applicable, and where to find additional resources from workbooks to webinars.

The tax professionals that work with your company might be familiar with the ACA ALE Special Report, as it is delivered by the people at Checkpoint, the industry leader in providing tax and accounting professionals with valuable information. Checkpoint is a tool that can provide customized content, research platforms, and resources to your business's tax team.

What Do I Do Next?

Whether you outsource tax preparation or have your own in-house accounting department, make sure they've read the report, and are prepared to implement the new ACA ALE requirements. The ACA ALE Special Report is the first step to understanding your ACA requirements. After reading the report, you'll be ready to have a meaningful discussion with your business's tax expert.

Download the Thomson Reuters Checkpoint Special Report: Health Care Reform Information Reporting Requirement For Employers Forms 1094/1095 now.

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