1094-b Form

1094-b Form: What You Should Know

The information is required for all employers, large and small. For more information, see this publication and the Publication 1025 Regulations. About the IRS Publication 2022: What the Publication Really Says This publication was first produced to address the question, “What does a tax penalty or the alternative minimum tax (AT) amount mean to a small employer (employer with fewer than 50 employees)?” The Publication 2024 clarified the meaning of the tax penalty and alternative minimum tax. Publication 2024 contained several examples of employers' questions that they had asked regarding Form 1094-B  For more information regarding the tax penalty and alternative minimum tax, see this publication and the Publication 519: Tax Requirements for Health Insurance Coverage — IRS 2021 Health Care Benefits — IRS Information about the health care plans that your employers will provide, how much you must provide, what the tax penalty or alternative minimum tax might be for your health insurance plan, and the consequences of not providing the health care benefits. If You Are Questioning Whether You Are Exempt From the Alternative Minimum Tax: In general, yes, you are exempt from the alternative minimum tax if you are an employer with more than 50 employees as of the close of the taxable year for which you were responsible for withholding and tax on the health insurance benefit for which you paid the premiums and the alternative minimum tax was not greater than 0.5% of the employer's net business income. This publication can help with the alternative minimum tax for certain organizations and individuals. If You Are Questioning Whether You Are Exempt From the Alternative Minimum Tax: No, you are not exempt from the alternative minimum tax if you are an employer with more than 50 employees, and are in any of the following situations: (1) you have more than 50 employees and are not a small employer (as defined by IRC Section 4980B(d)); (2) you are not a small employer under IRC Section 4980B(a) (as determined on the date your employers report their tax return for the year to the IRS); or (3) your businesses are treated as a single entity under IRC Section 4980A(a). See “Alternative Minimum Tax in Publication 519: Tax Requirements for Health Insurance Coverage — IRS See “Alternative Minimum Tax and Employer Reporting Requirements” in Publication 519: Publication 519 — Publication 519 contains information on the alternative minimum tax for small employers and certain other businesses.

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