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Supporting Your Faith with Fiscal Accountability

How much employee health coverage do you sponsor? The IRS wants to know.

The Affordable Care Act (ACA) brought many changes for employers, including nonprofits, and insurers. Imposed by the ACA, the IRS now requires reporting employer-sponsored health coverage on Form W-2. Most employers, including tax-exempt organizations, must report aggregate costs of “applicable employer-sponsored coverage” under the group plan on employee W-2s. By requiring employers to report this […]

New ACA Reporting Requirements for Your Nonprofit

The IRS mandated new reporting requirements to enforce the Affordable Care Act (ACA) that affect nonprofits and churches. These new forms will enable the IRS to verify that taxpayers held insurance with minimum essential coverage and were enrolled for all 12 months. Reporting is early in the year: you must submit your forms (Forms 1094-B […]