The most comprehensive resource available for payroll professionals. This service provides payroll news, white papers, custom research answers, webinars on the hottest payroll topics, survey and...
A reduction in overall rejections and forms that were accepted with errors led to a smooth 2017 filing season for Affordable Care Act information returns, an Internal Revenue Service official said June 1.
John Kalinoski, who manages the development services team that is part of the IRS electronic-filing team, said the form rejection rate fell to 1 percent in 2017 from 4.5 percent in 2016. The number of information returns that were accepted with errors fell to 3.8 percent from 6 percent, he said during the monthly payroll industry teleconference.
Employers with at least 50 full-time equivalent employees in the previous year must file Forms 1095-C, Employer-Provided Health Insurance Offer and Coverage, and 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, through the ACA Information Returns (AIR) system. Forms filed through AIR may result in acceptance, acceptance with errors, or rejection of the forms. The deadline for filing the forms was March 2, 2017.
“The overall 2017 filing season has gone very smoothly,” Kalinoski said. “The same can be said for ACA AIR.”
The 2017 filing season was three months, compared with six months in 2016, Kalinoski said. A critical difference was that no filing extensions were granted in 2016, he said. Employers that applied for an initial 30-day extension were granted the extra time, he said, adding that a second 30-day extension also was available.
“With both of them, it would lengthen the filing season to the end of May,” Kalinoski said of the extensions. Final filing totals have not been released by the Treasury Department, he said.
The availability of extensions likely led to a reduction in last-minute filings, Kalinoski said. “Clearly, with the uncertainty of what is to come next year, we can't say that what we just experienced will be indicative of next year,” he said.
Additionally, the IRS is to release ACA draft forms in July and draft instructions in August, similar to the 2016 schedule. Draft forms are not to be filed with the agency.To contact the reporter on this story: Michael Trimarchi in Washington at email@example.com. To contact the editor responsible for this story: Michael Baer at firstname.lastname@example.org.
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)