Video instructions and help with filling out and completing Who Form 1094 B Topics

Instructions and Help about Who Form 1094 B Topics

Let's go ahead and get started I figured we would do a quick introduction on what you can expect and a little background on Bernie portal so we were actually developed out of an agency here in Nashville called Bernard health they specialized in the small to medium-sized market they're looking for a way to help streamline HR and transactional problems of their clients they went on the movement market to try to find a solution and really were unable to find anything that really checked off all their boxes so you know rather than license someone else's software they began developing something internally that really would help fit the meet and needs of their clients that development process been ongoing for the last 10 years we've really only been licensing the software out to kind of other like-minded brokers or how the United States last three years at this point is developed into a full hrs system that can manage the entire employee lifecycle so it streamlines everything from the hiring process to Cobra administration and then along with our discussion today on 295 seas I'll kind of share with you how our ten ninety four twenty five seater we developed and brain portal could actually produce these forms for you I'm so for today's agenda I'm gonna share a quick background on the history of tonight for 1085 seas I'll cover what the current requirements are and you know what changes you'll need to know about for 2019 we'll discuss who we believe should be helping employers of this requirement and why and then finally you know I'll kind of as promised take you through the steps of how this requirement could be completed using Burney portal so let's look at the background of 1085 seas so this form is actually at the result of the Affordable Health Care Act originally you can choose to opt out of having coverage by paying a penalty so similar to the way the IRS needed to track your income with forms like w-2s or 1099s they now needed a way to track who is enrolled in healthcare so the purpose of this form is actually threefold so it reports and tracks coverage offered by you know required employers it reports coverages of individuals an attraction you know what subsidies individuals received in case the government you know maybe needed to reclaim the subsidies wrongfully collected by individuals on the marketplace we can now take a quick look at you know what the requirements are for 1095 C's um so you know despite many efforts to repeal or replace ACA since those first signed into law its remain largely unchanged even the most recent verdict from a judge in Texas deeming ACA unconstitutional you know still has a long road ahead of it through our legal system before you know dissolving employers the responsibility of submitting these forms also because of the disruption this ruling will probably have in the marketplace if upheld no effect will actually take place until the room until the ruling has been through the entire appeals process so for the foreseeable future you know you can pretty much plan on this requirement being here to stay um so what are the requirements and you know who needs to produce these forms so any employer over the fifty full-time employees or any 50 full-time equivalent employees are gonna be required to produce these 1095-c forms for their employees I'll just be referring to these applica large employees as a lease going forward full-time employees pretty straightforward you know they're defined by anyone who works at least 30 hours a week or 130 hours a month full-time equivalent employees that's gonna be two more part-time employers who you know their hours add up to a full load so like for example you know to employees who each work 15 hours a week we equal one full-time employee equivalent so 2019 updates so what you'll need to know for this year the individual mandate has gone away which we'll talk about here in a moment but the employers are still gonna be subjected to fines from filing on time so an employer's gross revenue the time of filing the number of employees are all going to play a factor into how large employer fines will be since 2015 DRS has sent out the dreaded 2 to 6 J letters to around 300,000 employers and that's totaled over 4.4 billion dollars in fines so important deadlines you're going to know so there's really key three dates you're going to know for this year's filing every employer who meet the requirements we just discussed they're gonna need to either pay per file or efile at the IRS of 2019 so employers choosing to pay per file that's gonna need to be done no later than February 28th or they're gonna see some fines and penalties being assessed to them along with the copy that they send to the IRS employers are also gonna need to send a copy to their employees so in line with previous year's deadlines that's been pushed back from the original date of January 31st this year it's gonna be March 4th and so again penalties and fines they can occur by missing that deadline as well and then finally you know employers choosing to e-file they're gonna have up to April 1st to submit those forms to the IRS any employer over 250 lives we're going to be required to e-file however anyone's able to do that so that may be an option for smaller employers who maybe they weren't able to get their forms finished in time to pay per file they'll have the ability to to e-file at that later date any required employer that hasn't submitted by this date though they're gonna face the steepest fines so the end of it will mandate you know if there wasn't already enough confusion around this