New ARRA Reports Available in TravisCOBRA and WebCOBRA.com!
Category:
Topics: 941, arra, irs, reports
Last week, Travis reported that the IRS released informal guidance regarding the proper procedure to claim credit for an ARRA premium subsidy on IRS Form 941. Through an email authored by a senior IRS Analyst, the IRS clarified that the ability to claim credit for the COBRA premium subsidy is based on the date that the COBRA premium payment is received, not the time period to which such credit is applied.
In response to this guidance, Travis has developed a new report for both the TravisCOBRA and WebCOBRA.com systems. This new report is entitled the “ARRA IRS Report.”
Example of Report in TravisCOBRA
Example of Report in WebCOBRA.com
This report is filtered by the date the payment is entered in the system. In addition, the report was designed to contain the following columns: • Employer Name
• COBRA QB Name
• Payment Entry Date
• Total Payment Amount
• Attributable ARRA Subsidy
This report will also total the subsidy at the employer level.
6 Responses to “New ARRA Reports Available in TravisCOBRA and WebCOBRA.com!”
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January 26th, 2010 at 10:41 AM
Is this available for download? Thank you!
January 26th, 2010 at 11:48 AM
Thanks for this new report. When will the TCOBRA update be released that includes this report?
January 26th, 2010 at 01:02 PM
@Chuck and @Elizabeth We just released an email with the download for TravisCobra!
January 28th, 2010 at 07:28 AM
Is it possible to have the report broken down my company? Thanks!
January 28th, 2010 at 09:18 AM
@Janent Yes! The report can be broken down by company.
January 29th, 2010 at 12:54 PM
When I ran the ARRA IRS Report, I noticed the ARRA subsidy amounts are appearing on the report for months which the QB has NOT paid premiums. According to the Travis Software Official Blog dated 1/25/2010, the ability to claim credit for the COBRA premium subsidy is based on the date that the COBRA premium is RECEIVED. Since I haven’t received QB payment, the subsidy should not appear on the report.