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End of Year Reporting - Paychex ESR Video Series

Health Care

We've gone through the major steps in the ESR provisions, determining if the ESR provisions apply to you, identifying which full-time employees you need to offer health coverage to, and whether your coverage is adequate and affordable. That has to be enough to comply with the ESR provisions, right?

Well, you would be done with the ESR provisions if it weren't for the new IRS reporting requirements for ESR. And these reporting requirements are the first things you should be paying attention to for 2015.

Don't worry. Paychex is there to help you prepare and file these reporting forms and keep you on the right side of the provisions.

The Treasury Department instituted end of year reporting requirements for applicable large employers beginning January 2016 for the 2015 tax year. There are two IRS forms you'd need to complete.

  • Form 1094-C, this form is for the employer to fill out for the business.
  • Form 1095-C, this form is for the employer to complete on behalf of the employee.

Like most tax forms, these new ESR reporting forms are more complex than they look.  While there are only a few questions, these require incredibly complex calculations and coordination between different data sources to answer. There's a high likelihood that an employer completing this form on their own will make costly errors.

As we've mentioned, Paychex is uniquely situated to help you meet these reporting requirements. Our ability to coordinate employee data across multiple categories allows us to facilitate the reporting of data you need to complete these forms efficiently and accurately.

With help from Paychex your burden in completing these forms is reduced to answer a couple of easy questions. There's no need to feel overwhelmed.

Watch the final part of this video series to learn how Paychex can help you prepare and file the new reporting forms required by the IRS.

This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.