IRS Code 1094C-008-02 addresses discrepancies in the number of Form 1095-C reported on Form 1094-C. This error can complicate compliance with the Affordable Care Act (ACA) by misrepresenting the actual coverage offered to employees. Consequences of Reporting Incorrect 1095-C Counts Incorrect … [Read more...]

IRS Penalty 1094C-005-01 is levied when Form 1094-C is submitted without the required authorized signature. This signature is a crucial component of the form, verifying the accuracy and authenticity of the information provided to the IRS under the provisions of the Affordable Care Act … [Read more...]

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...]