Form 1095-B: An Overview
Form 1095-B, Health Coverage, is used to report to the IRS and individuals offered minimum essential coverage certain information regarding that coverage.
Typically, Form 1095-B is issued by insurance providers, including insurance companies, self-insured employers, employers with fewer than 50 full-time employees, and other agencies that provide health insurance coverage.
Visit https://www.taxbandits.com/aca-forms/what-is-form-1095-b/ to know more about IRS ACA Form 1095-B.
Only Pay When You're Ready to Transmit to the IRS
When to File Form 1095-B?
Form 1095-B Deadlines for 2022 Tax Year Reporting:
- Recipient Copy Deadline:March 04, 2024
- Paper Filing Deadline: February 28, 2024
- E-filing Deadline: April 01, 2024
Only Pay When You're Ready to Transmit to the IRS
Information Required to Complete Form 1095-B
The following basic information is needed to complete Form 1095-B, whether you're paper filing or e-filing:
- Responsible Individual Information
- Employer Sponsored Coverage Data
- Issuer/Coverage Provider Information
- Details of the Covered Individuals
Only Pay When You're Ready to Transmit to the IRS
How to File Form 1095-B?
E-filing Form 1095-B
E-filing, or electronic filing, is an online method for filing your 1095-B Forms. E-filing allows for faster, more secure filing, right from your own computer. The IRS even recommends you e-file, and they also require you to if you have more than 250 forms to file. And one of the most important things when e-filing is finding the right IRS-authorized e-file provider.
ExpressIRSForms is an online filing solution for Form 1095-B, and we have all the necessary information you need to complete the e-filing process. We ensure your data is secure when you e-file your 1095-B Forms with your very own ExpressIRSForms account!
Form 1095-B can be filed with the IRS using one of the following methods:
- Paper filing
- E-filing
Paper Filing Form 1095-B
Paper filing is a traditional method of filing that's very common. It involves filers submitting IRS Forms through the mail with the help of an IRS-authorized office. The verification process for Form 1095-B at these IRS-authorized offices is carried out manually, which involves a lot of processing time. Even after you file, there's no guarantee your forms were filed without error.
Only Pay When You're Ready to Transmit to the IRS
How to E-file Form 1095-B with ExpressIRSForms?
E-filing Form 1095-B with ExpressIRSForms is easy! All you have to do to start is create a free account. Once inside your account, add the provider and recipient details needed to complete your 1095-B Forms. Once you've imported all of your data, simply pay and transmit your 1095-B Forms directly to the IRS!
ExpressIRSForms even offers an exclusive postal mailing feature to our clients. Select this option before you transmit, and we'll print and mail your recipient copies of Form 1095-B to your coverage recipients for you!
Check out the video below to see how the Form 1095-B e-filing process is carried out with ExpressIRSForms!
Only Pay When You're Ready to Transmit to the IRS
Extension Form 8809
If you find you may need extra time to file your 1095-B Forms, you can apply for an extension by submitting Form 8809 to the IRS. This form provides you with an automatic 30-day extension of time to file. And you can e-file Form 8809 with ExpressIRSForms for just $2.99! Simply create an account, provide the necessary Form 8809 information, and transmit your form to the IRS!
Only Pay When You're Ready to Transmit to the IRS
Form 1095-B Corrections
So, what should you do if you need to make a correction on Form 1095-B?
Whether or not you receive IRS notification of any errors, you can make corrections to submitted 1095-B Forms. And we at ExpressIRSForms support ACA Form 1095-B correction filings for free if your return was rejected by the IRS.
Below is the information you can correct on Form 1095-B:
- Employer EIN
- Recipient SSN
- Recipient Name
- Offer of Coverage
- Covered Individual Information
Only Pay When You're Ready to Transmit to the IRS
Penalties for Failing to File Form 1095-B
Filers could face a penalty of up to $310 for every Form 1095-B not filed. The total penalty, however, cannot exceed $3,783,000 per calendar year. Waivers are available if your failure to report is due to a reasonable cause.
Only Pay When You're Ready to Transmit to the IRS