IRS Penalty 1094C-004-01 is assessed against employers who submit Form 1094-C with the wrong tax year indicated. This error can lead to significant confusion and delay the processing of essential ACA-related information. Importance of Correct Tax Year Reporting Accurately reporting the tax year on … [Read more...]

IRS Penalty 1094C-002-01 is imposed on employers who fail to file Form 1094-C by the prescribed deadline. Timely filing of this form is crucial as it accompanies Form 1095-C, providing the IRS with essential information regarding health coverage offered to employees under the Affordable Care Act … [Read more...]

IRS Penalty 1094C-001-01 is assessed when employers submit Form 1094-C with an incorrect Employer Identification Number (EIN). This error can lead to misidentification and improper processing of employer health coverage information under the Affordable Care Act (ACA). Implications of Incorrect EIN … [Read more...]

IRS Notice AIRTN500 is issued when the Transmitter Control Code (TCC) is missing from Form 1094-C submissions. The TCC is essential for electronic filing, serving as a unique identifier for the transmitter of the tax information to the IRS. Importance of the Transmitter Control Code The … [Read more...]

IRS Form Code AIREX126 pertains to exemptions granted for not filing Form 1094-C under specific circumstances. This code is crucial for employers who qualify for exemptions from the usual reporting requirements under the Affordable Care Act (ACA). Criteria for AIREX126 Exemption To qualify for an … [Read more...]