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Monthly Archives: May 2015
The ABC’s Of Obamacare
We are past January 1, 2015. Obamacare 2015 reports will be due just like 2015 W-2’s will be due in January 2016. Do you know your A-B-C’s of Sections 6055 & 6056 with Forms 1094 & 1095 reporting? You need to learn! It is 2015 monthly data for each employee that large employers and self-insured employers have to report in 2016; including many 50-99 size employers who thought they were exempt. All size employers have to provide notices. Individuals also have to report on their 2015 personal returns and reconcile their subsidies like they did in 2014; some owed money back to the government for 2014. The full impact of the Obamacare compliance and reporting began in earnest January 1, 2015. The penalties are significant and non-deductible.