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40 PalletCentral • July-August 2015 palletcentral.com BUSINESS ACA Resources Becoming Audit-Ready, IRS 1095-C Forms According to the IRS Publication on the Affordable Care Act (ACA) reporting requirements, applicable large employers are required to take some new actions. These employers must file information returns with the IRS and also provide statements to full-time employees about health coverage the employer offered or to show the employer didn't offer coverage. Information reporting was voluntary for calendar year 2014. All applicable large employers are required to report health coverage information for the first time in early 2016 for calendar year 2015 on Forms 1095-C and 1094-C (http://www.irs.gov/uac/About-Form-1095-C). Best practice: Compile information throughout the year and have the material ready before an audit. The information should include detailed records showing hours worked during the measurement period; monthly backup documentation for employee counts and the large employer determination; detailed employee schedules and coverage information, and insurance plan information including costs. Affordable Care Act: Reporting Requirements for Applicable Large Employers http://1.usa.gov/1z5rPF6 State Health Insurance Exchange Map http://obamacarefacts.com/state-health-insurance- exchange IRS Q&A for Employers http://1.usa.gov/1yVRUvF PC Gene Marks is a columnist, author and small-business owner. He oversees the Marks Group, a 10-person technolo- gy consultancy of small and medium-size businesses. A cer- tified public accountant, Marks has also worked in the entre- preneurial services arm of KPMG. He writes for The New York Times, Forbes and The Huffington Post. This article first appeared in Inc. magazine in May, 2015 and is reprinted with permission.