Video instructions and help with filling out and completing Which Form 1094 B Filing

Instructions and Help about Which Form 1094 B Filing

If your business employs fewer than 50 full-time or full-time equivalent employees and the health care plan that is offered to employees is self-insured if it's likely that you will be required to complete forms 1095 B and 1094 B to be in compliance with the Affordable Care Act in this lesson we will walk you through the process of preparing these forms and you will learn about the different options you have to submit them to the IRS and your employees at the end of the year after viewing this lesson you should be able to file your federal 1095 and 1094 B forms there are a few steps you should take before printing or submitting your 1095 and 1094 B forms first review the year-end software update notice and install the year-end update at the end of each year saij provides an update that includes changes to the software to accommodate any new reporting requirements for year-end this notice will arrive by email and will contain details regarding what is changing and instructions on how to download and install it which should always be done prior to submitting any year-end tax forms next you will want to make sure that you are up to speed on the reporting requirements for the Affordable Care Act this will ensure you prepare and submit the correct forms and information to the IRS and your employees one of the factors that will help you determine which Affordable Care Act forms you will be required to submit and what information needs to be included on them is to determine the number of full-time and full-time equivalent employees at your company there is a tool in payroll you can use to determine these counts and once you know what your full-time and full-time equivalent counts are and which forms you will be required to submit you'll want to make sure that you are tracking the appropriate information in payroll so that when you are ready to prepare the forms all of the necessary information will be included this chart provides at a glance the Affordable Care Act forms and information that must be provided to employees and the IRS at the end of the year in this lesson we will walk through the process of preparing and submitting the 1095 B and 1094 beef forms which is required if your business offers a self-insured health care plan to employees and you are not an applicable large employer let's get started in payroll go to tasks federal efile and reporting and select the 1095 slash 1094 b form in the list a description of the form appears here and all you need to do to get started is confirmed that the correct year is selected here and then click Next you can choose to remove employees if applicable keep in mind that only employees with an ACA exempt status of full-time or not exempt on the employee setup ACA coverage tab will be included so it is not necessary to remove employees here that have a status of exempt or not working as they will already be excluded by default click Next to continue and then click generate read and then click OK on the 1095 B company information message and the ACA setup wizard opens which will guide you through the preliminary steps in the first step you will need to decide what you want to do your options are to test drive with just the first 25 employees test drive with all employees or process the actual 1095 and 1094 B forms if you are simply here to test this out use one of the test drive options as this does not save any data just allows you to try the feature out if you are ready to prepare the official forms select no thanks start processing my 1095 / 1090 force and then click Next in the next step confirm that the federal employer identification number for your business is prefilled correctly and then click Next your company information in the upper portion of this window should be included automatically but you want to review it to make sure that all of the information is correct and make any changes if they are necessary and in the lower portion of this window enter the contact information for the person who is completing the 1095 and 1094 B forms the company and contact information entered in the company information window will be reported in boxes one through eight on the 1094 d form click Next to continue select the appropriate tax preparer type then click Next and now in the employee and covered individual social security numbers window indicate how you would like the Social Security numbers for employees and they're covered individuals to be displayed on printed copies sent to the employees while preparing the forms the full Social Security numbers will be displayed on-screen but when the actual copies of the forms for the employees are printed it will use the options selected here to determine how the Social Security numbers should be displayed for employees you have the option to show the full social security number or truncate it using asterisks or exes to show only the last four digits if you select the truncate the employees social security number the same choice will be automatically selected for the covered individuals below once you have selected the options you would like to use click Next which brings you to the final window in the ACA setup wizard if you track payroll data for a single iin in multiple master files the system has the ability to combine them in the process so that all of your 1095 and 1094 B information can be compiled in a single session in this example all payroll data is stored in a single file so select no I use a single data file for this ein to view a demonstration showing how to