IRS-Approved Optional Proxy Submission and Penalty Relief Consultation
This post is for Applicable Large Employers (ALEs) required to comply with the Affordable Care Act. We hope you find it useful.
As we approach year-end and W2 filing deadlines in January, you may find yourself very busy with lots of responsibilities on your plate.
If managing your ACA filing is one of those responsibilities, you can check that off your to-do list by purchasing our affordable, comprehensive ACA Software.
Our software allows you to prepare and file electronically – or customers can choose our optional proxy submission service. We are IRS-approved to file on our customers’ behalf.
Our support staff is knowledgeable, and installation and setup are included in the price, as well as a quick tour of our easy-to-use ACA software.
Also, extra support and training packages are available for those who would like a little more help with the software or preparation for filing.
We also provide penalty relief consultation services, and we have helped many companies drastically reduce or avoid penalties.
Many of our customers have decided to turn the whole process over to us. Our ACA Full Service option is affordable and easy – just provide a spreadsheet and we’ll do the rest.
Our Proxy Submission Service
Our optional proxy submission service is available to our ACA software customers. If you want to avoid the hassle of applying for a TCC code and filing, we can transmit and file on your behalf.
We will handle the Transmitter Control code application for you and take care of your electronic filing, as well as confirm your acceptance status.
Corrections are billable at the standard hourly or bundled rates (and free of charge in the case of Passport Software error or software issue).
Penalty Relief Consultation
ACA non-compliance and late filing penalties continue to increase annually. For the 2021 tax year, the Employer Mandate penalty IRC 4980H(a) will be $2700 and 4980H(b) will be $4060.
The ACA Employer Mandate requires companies with 50+ full-time employees (or full-time-equivalents) to offer Minimum Essential Coverage to at least 95% of their full-time employees and dependents.
The offered coverage must meet the Minimum Value and be considered “affordable” for the employee.
For the 2021 tax year, the affordability threshold for 4980H(b) has increased to 9.83% of the Federal Poverty Level, which totals $1254 annually ($104.53 per month). Thus, the maximum monthly employee contribution considered “affordable” will increase from 2020.
The Employer Mandate penalty occurs when an employer missed an offer of Minimum Essential Coverage or the offer was unaffordable/didn’t meet Minimum Value – whichever penalty is greater will apply.
Some companies are now receiving IRS Letter 226J that notifies ALEs they may owe an Employer Shared Responsibility (or Employer Mandate) Payment based on information from Forms 1094-C and 1095-C filed by the ALE and the individual income tax returns filed by the ALE’s employees.
Other companies have received IRS Letter 5699, the letter the IRS uses to makes initial contact regarding missing data. Essentially, ALEs are requested to transmit their 1094-C/1095-Cs within 30 days and/or provide an explanation.
If your company has received notification of possible penalties, we can help. We provide penalty relief consultation services and have helped many companies drastically reduce or avoid penalties.
And our IRS-approved proxy submission service is affordable and can help ease the burden of compliance.
To learn more call 800-969-7900. Or contact us – we are here to help.