Affordable Care Act: Reporting Requirements for Applicable Large Employers

Affordable Care Act: Reporting Requirements for Applicable Large Employers is a 2-page tax-related document that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on January 1, 2016.

FAQ

Q: What is the Affordable Care Act?A: The Affordable Care Act (ACA) is a healthcare law passed in 2010.

Q: What are reporting requirements for applicable large employers under the ACA?A: Applicable large employers (ALEs) are required to report certain information about the healthcare coverage they offer to their employees.

Q: Who is considered an applicable large employer?A: An applicable large employer is an employer with 50 or more full-time employees, including full-time equivalent employees.

Q: What information is required to be reported by applicable large employers?A: ALEs are required to report information about the health coverage they offer to their employees, including details on employee eligibility and enrollment.

Q: What forms are used to report ACA information?A: Applicable large employers generally use Forms 1094-C and 1095-C to report ACA information.

Q: When are ACA reporting forms due?A: The due date for filing ACA reporting forms with the IRS is usually at the end of February or early March.

Q: Are there penalties for non-compliance with ACA reporting?A: Yes, there can be penalties for non-compliance with ACA reporting requirements.