by: John Burke
The May CPE Luncheon for the Tulsa Chapter of the Oklahoma Society of CPAs featured guest speaker Shelly Bloom, Director, Legislative Awareness and Training at Emerson Reid & Co. Shelly’s focus is on Health Care Reform, specific to each state.
The presentation topic was the Affordable Care Act (ACA). In July 2014, the IRS released Form 1094-C (a transmittal to the IRS) and Form 1095-C (a statement to employees) that applicable large employers (generally those with 50 or more full-time equivalent employees on average during the prior calendar year) and health insurance issuers will use to report information regarding health coverage, as required under the Affordable Care Act starting in 2015. The first reporting will be due in the first quarter of 2016, reflecting the 2015 calendar year. The 1095 serves as proof that the individual has obtained healthcare insurance.
For more information on the Tulsa Chapter of the Oklahoma Society of CPAs please visit their website here. A copy of the ACA slide presentation is available on the TCOSCPA website.