Sovos Compliance Announces New Tools for Affordable Care Act Reporting

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As the deadlines for issuing the new ACA 1094 and 1095 forms as well as making the necessary IRS transmittals rapidly approach, the leading filer of 10 series forms in the US is ready to help organizations meet this new and complex information reporting requirement.

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This solution is a simple three-step process, enabling organizations to officially and accurately report their ACA information.

Sovos Compliance, an industry leader in tax compliance and reporting, announces the availability of a new, a more streamlined Taxport ACA, their most recent Affordable Care Act reporting solution. Taxport ACA is designed for organizations of all types of employee populations.

Taxport ACA was designed on the proven Taxport platform that helped nearly 2,000 organizations process over 310 million forms for Tax Year 2014. This solution is a simple three-step process, enabling organizations to officially and accurately report their ACA information:

  •     First, Taxport ACA makes it easy to import data from any flat file in order to aggregate the reportable information from all of your 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.
  •     Second, 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 third step provides a final review, form generation and mailing, as well as transmittal to the IRS 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.
Taxport ACA is a fully compliant and complete service that includes form distribution to recipients as well as IRS electronic filing.

On top of offering its ACA reporting solutions, Sovos Compliance recently partnered with The Society for Human Resource Management (SHRM) to provide additional insight, clarity and knowledge to the HR and Benefits community of professionals to assist them in implementing a compliant solution for their organization.

On Tuesday September 1st, 2015, Sovos Compliance participated in a SHRM hosted webinar, “Implementing Affordable Care Act Reporting” to help its members and the HR community as a whole understand the magnitude of their organizations’ new tax reporting obligations.

This complimentary webinar is available for download and representatives are ready to help determine if Taxport ACA can help organizations avoid newly increased penalties and fulfill these new tax reporting obligations.

About Sovos Compliance
Sovos Compliance designs technology solutions to help businesses meet the demands of their unique tax, compliance and reporting obligations. The company enables over 4,000 clients to operate with the confidence to efficiently navigate today’s dynamic regulatory environment. Sovos Compliance utilizes a unique ability to turn knowledge into highly functional, scalable software that seamlessly integrates with a wide-array of applications and information technologies used by businesses today. Sovos Compliance gives clients peace of mind by simplifying tax compliance, providing greater control and visibility, and mitigating compliance risk.

For more information, please visit: http://www.sovos.com

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Lisa Russell
@SovosCompliance
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Sovos Compliance
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