Sovos Compliance announced the availability of a new, more streamlined Taxport ACA, its most recent Patient Protection and Affordable Care Act (ACA) reporting solution.
Taxport ACA is a fully compliant and complete service that includes form distribution to recipients as well as Internal Revenue Service (IRS) electronic filing. It is designed for organizations of all types of employee populations.
According to Sovos, the solution makes it easy to import data from any flat file in order to aggregate the reportable information from all an employer’s source systems and lines of business. The solution’s smart import tool will map and populate all the required fields into the required 1094 and 1095 forms.
Taxport ACA will read the data, highlight potential issues and allow editing in real-time. After the data is ready and has been compiled, the system provides a final review, form generation and mailing, as well as transmittal to the IRS ACA Information Returns (AIR) system electronically with the simple click of a button.
“We are fielding a steady stream of inquiries from organizations telling us that their internal plans, or other chosen providers, are not able to meet the required 2015-tax-year ACA reporting deadlines or requirements. We want large employers with 1094/1095 ACA reporting obligations to know that there is a solution in the market that can help them avoid potential penalties by helping them file on-time for this tax year,” says Andy Hovancik, CEO of Sovos Compliance.
For more information, visit: http://www.sovos.com.