The new ACA Information Center for Applicable Large Employers (ALE) page on IRS.gov features information and resources for employers on how the health care law may affect them if they fit the definition of an applicable large employer. Visitors to the new page will find links to forms, instructions, publications, health care tax tips, flyers, videos, as well as detailed information about tax provisions including information reporting requirements for employers.
Although the majority of employers won’t be affected, you should determine if you’re an applicable large employer. If you averaged at least 50 full-time employees during 2014, including full-time equivalent employees, you’re most likely an ALE for 2015. If you have fewer than 50 full-time employees, you may be considered an ALE if you share a common ownership with other employers.
In 2016, ALEs must file an annual information return and provide a statement to each full-time employee, reporting whether they offered health insurance, and if so, what insurance they offered their employees.
If you will file 250 or more information returns for 2015, you must file the returns electronically through the ACA Information Reports system. Review the draft Publication 5165, Guide for Electronically Filing Affordable Care Act (ACA) Information Returns, for information on the communication procedures, transmission formats, business rules and validation procedures for returns that you must transmit in 2016.
The new page can be accessed on www.irs.gov/Affordable-Care-Act/Employers/ACA-Information-Center-for-Applicable-Large-Employers-ALEs. If you want more information or help in determining if you’re an applicable large employer, please contact us.
For more information, contact Padgett Business Services in Bothell, Washington at (425) 408-1695. We handle your bookkeeping, accounting, tax (personal & business) and payroll needs – so you can focus on what makes you money. Serving Bothell, Lynnwood, Kenmore, Mill Creek and surrounding areas.