Due to requirements resulting from the Patient Protection and Affordable Care Act (PPACA), employers who offer employer-sponsored benefits are required to file IRS Tax Form 720 and pay a small fee. This will impact Plan years ending 2012-2019. Don’t worry; TASC has you and your Clients covered!
TASC is committed to keeping your Clients’ Plans in compliance and backs every AgriPlanNOW, BizPlanNOW and No Limit Plan with our Audit Guarantee. To help ensure compliance, please tell your Clients who have multiple, benefit-eligible employees to watch their mail in mid-June for a pre-filled IRS Tax Form 720 from TASC containing the required PCORI information (one-employee Plans are exempt).
We will instruct your Clients to:
- Verify their EIN number
- Sign the form
- Include payment and voucher
- Ensure their completed form with payment is mailed to the IRS and postmarked no later than August 1, 2016
- Mail to the Department of Treasury, Internal Revenue Services, Cincinnati, OH 45999-0009
- If they are already filing IRS Tax Form 720, contact their tax preparer (which in most cases is you) to include the PCORI calculation and fee on their form submission.
- If they have corrections to the mailed pre-filled Form 720 they can download, create, and print a corrected fillable PDF Form 720 from the IRS website. As always,contact our Customer Care Center at 800.422.4661 for further assistance.