Target Audience: CPAs, EAs, Annual Filing Season Program Participants
Field of Study: Taxation (NASBA); Federal Tax/Tax Related Matters (IRS)
Seminar Level: Beginner
IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (afsp) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.
Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG
DISCLAIMER: THIS SEMINAR WAS FILMED IN New Orleans, LOUISIANA, ON JULY 26, 2016, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The IRS Small Business Self Employed Division presented this seminar at the 2016 IRS Nationwide Tax Forum.
This seminar will provide information on applicable large employers (ALEs) and providers of minimum essential coverage, who are subject to information reporting requirements under ACA, including:
•ACA provisions - IRC Sections 6055 and 6056 reporting requirements;
•ACA Information Returns (AIR) electronic filing system; and
•an overview of Forms 1094-C and 1095-C, 1094-B and 1095-B.
By the end of this presentation, you will be able to:
• Recognize what an ALE is and their Reporting requirements
• Recall the difference between government sponsored programs and employer sponsored programs
• Identify Minimum Essential Coverage and how to report employer coverage on form 1094-C
• Differentiate between the various reporting forms and when they apply
• Determine the due dates to the employee and to the IRS when filing electronically
No prerequisites or advanced preparation are required for this seminar.