Video instructions and help with filling out and completing When Form 1094 B Employed

Instructions and Help about When Form 1094 B Employed

Hi I'm Michelle and I work for the Internal Revenue Service under the health care law anyone who provides health coverage to individuals has to report some information to the IRS and to those individuals covered by the plans this requirement applies to insurance companies and government agencies but it also affects some employers now some provisions of the health care law apply only to those employers with a large workforce but this is not one of them if you're an employer who provides self-insured employer sponsored coverage you will need to report that coverage regardless of the size of your workforce you need to track some information each month during the year so you can report it at tax time the next year you should keep track of two things first information about the individuals who enrolled in coverage you provided and second the months you provided coverage for each individual at the beginning of each year you'll prepare statements for the individuals you covered then you'll also need to file information returns with the IRS be sure to check the dates each year for the reporting deadlines weekends and other factors can affect these dates and the deadlines differ depending on whether you file the forms electronically or on paper you must file their returns electronically if you have to send the IRS 250 or more there are two different forms for reporting most providers and smaller employers will use form 1095 B but if you have 50 or more full-time employees including full-time equivalents you'll need to use form 1095-c instead that's because you're considered an applicable large employer also known as an AoE just like other year-end forms you already file with the IRS such as w-2s you'll file these forms using a transmittal that's either form 1094 B or C to file electronically also keep in mind there is a special application process for these healthcare returns even if you already file other year-end documents you'll need to apply separately to file these returns electronically to apply use the Affordable Care Act information returns or air page on irs.gov and to learn more about any of these topics be sure to visit irs.gov slash ACA