A guide to each new form related to the Affordable Care Act. Here's a guide on W-2 Changes & Filing Tips for Businesses for 2016.

1. W-2 Changes & Filing Tips
for Businesses for 2016
A guide to each new form
related to the Affordable
Care Act.

2. Affordable Care Act forms:
Form 1095-B—Health Coverage
Insurers and self-insured employers that provide health plans are
required to report data on all covered individuals. They should do so
on this form.

3. Form 1094-B—Transmittal of Health
Coverage Information Returns
Form 1094-B is the transmittal form that must be filed with Form
1095-B.

4. Form 1095-C—Employer-Provided
Health Insurance Offer and Coverage
Employers with 50 or more full-time employees are required to
report health insurance offer and coverage information to each full-
time employee with Form 1095-C. A large employer with a self-
insured plan will only be required to submit Form 1095-C, as the
information on Form 1095-B can be included on Form 1095-C.

5. Form 1094-C
Transmittal of Employer-Provided Health Insurance offer and
Coverage Information Returns must be filed with Form 1095-C.

6. 2015 W-2 Form Changes:
Medicaid Waiver Payments
Certain Medicaid waiver payments are excludable from income for
federal income tax purposes. See Notice 2014-7 for additional
information.

7. Third-party Sick Pay Recap Reporting
For wages paid in 2015, Form 8922, Third-Party Sick Pay Recap, will be
used to report total third-party sick pay wages paid to employees . Form
8922 replaces the Third-Party Sick Pay Recap Form W-2 and W-3. Form
8922 is filed with the IRS rather than the SSA.

8. Virtual Currency
The fair market value of virtual currency (such as Bitcoin) paid as wages is
subject to federal income tax withholding, FICA tax and Federal
Unemployment Tax Act (FUTA) tax and must be reported on Form W-2.

9. To Learn More
Visit
www.taxassistancegroup.org
or Call
(855) 549-7829