For Companies Fearful of Deadline, Establishing a Relationship with a Third Party Compliance Vendor Considered “Good Faith” Effort by IRS
AUSTIN, TX – Tango Health has successfully assisted a significant number of clients in providing 1095-C tax forms to their employees – achieving a key milestone in the new health care reporting requirements under the Affordable Care Act (ACA).
While the Internal Revenue Service (IRS) recently extended the filing deadlines for 1095-C Forms and other ACA-related information reporting, many medium- to large-size companies working with Tango were well prepared to meet the original deadlines.
“We are pleased to have successfully guided a significant number of our clients through the challenging process of compiling employee data to meet all compliance requirements under the ACA,” said Todd Praisner, CEO of Tango Health.
The IRS has extended the deadline for employers to mail Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to individuals until March 31 (from the original deadline of Feb. 1). Employees will not need to have the Form 1095-C in hand in order to file their 2015 tax returns, if they choose to file in advance of receiving their form from their employer (for those employers that choose to wait to file until March 31).
For companies still facing challenges in meeting the 1095-C filing deadline, Praisner notes that making a “good-faith” effort at compliance with the ACA reporting requirements, such as by indicating a relationship with a third-party compliance vendor, could be taken into consideration.
“We stand ready to assist other employers who have not yet begun the compliance process or believe they will be severely challenged in gathering the necessary employment data,” Praisner said. “Bottom line, the good news for employers is that there is still time – both to meet the IRS deadlines and to secure the most effective compliance solution.”
To find out more about the ACA Compliance Suite from Tango, please visit: http://www.tangohealth.com/services/aca-compliance.
About Tango Health
Tango Health Benefits Optimization saves organizations money, makes employees happy, and ensures regulatory compliance with the Affordable Care Act (ACA). Comparison tools help employees choose plans based on their needs, and provide savings for both the employee and the employer. Education keeps employees engaged, and Tango experts simplify and manage regulatory compliance to minimize risk.