ACA News September
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Greatland 1095 Reporting News – September 2016
Beware of the common ACA reporting myths for tax year 2016
We’re hearing some common rumors circulating about the upcoming ACA reporting year. To set the record straight, here are the two most common myths floating around:
MYTH: The IRS will continue the “Good Faith Effort” for Tax Year 2016
TRUTH – The IRS has not released any information indicating the “Good Faith Effort” will be extended for 2016 reporting. In fact, the IRS recently released drafts of the 2016 instructions. These drafts DO NOT mention the “Good Faith Effort.”

About the ACA Good Faith Effort
Last year the IRS did not impose penalties under sections 6721 and 6722 for 2015 returns and statements filed and furnished in 2016 on reporting entities when filers made good faith efforts to comply with the information reporting requirements.
MYTH: The IRS will extend ACA reporting deadlines for tax year 2016, just as they did for tax year 2015.
TRUTH – You should prepare to send 1095 copies to recipients on or before January 31, 2017 and send paper copies of Form 1094/1095 to the IRS on or before February 28, 2017 or e-file to the IRS on or before March 31, 2017. At this time the IRS has not extended these deadlines. We will notify you immediately if we receive communication from the IRS that these deadlines have been extended.
At this time, you should prepare for the following ACA reporting deadlines:
1094/1095 Import Templates
Coming... Very soon!
In mid-October we will release the first versions of the 1094/1095 import templates for the 2016 tax year. These templates are for year-end data preparation and will be available to be uploaded when the 2016 tax year version of Yearli Desktop (mid-November) and Yearli Performance (early December) is launched. Although the templates will be similar to 2015, we’ve designed some enhancements intended to make the import process easier and faster. Highlights of the enhanced 2016 templates include:
Data Validation: This new enhancement will validate all fields for maximum character length and format type (where applicable), reducing errors when importing data into Yearli.
Error Recognition: All new templates will automatically check for invalid data. If found, the field is highlighted and an error description is provided. This will allow you to quickly identify formatting issues and make corrections before importing your data into Yearli.
Reference Sheet: Each template will contain a reference sheet with import instructions, links to knowledgebase articles and other materials to help your data import run smoothly.
1094-C/1095-C Combination Template: This template, available for Yearli Performance, allows 1094-C data to be imported along with 1095-C forms, improving efficiency and saving you time.
Annual updates (based on IRS draft forms): All template column headings and sample data will be updated to match the most recent 2016 1094/1095 forms. If additional changes are released by the IRS, the most recent version will always be available in Yearli Performance and Yearli Desktop. Each template will contain a version number so that you can be sure you are using the most recent template.
Template Format: All templates are provided as an Excel file (.xlsm), but may be saved and imported as .xls, .xlsx, or .csv format.
ACA Reporting Resources
Remember, we’re always here for you. If you have any questions relating to W-2, 1099 or 1095 (ACA) reporting, please let us know.
Phone Support - 877.789.1946 Phone Support – 920.339.3200
Visit our Knowledgebase - Visit our Knowledgebase -
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Email – Email –
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