IRS Extends ACA Reporting Deadlines for Employers– December 29, 2015 by Maura Corrigan


Posted by Maura Corrigan, CPA, MT

In an effort to give employers and insurers more time to comply with Affordable Care Act (ACA) information reporting requirements for the 2015 tax year, the filing deadline for employers and other coverage providers as well as the deadline for furnishing health-insurance information to individuals have been extended.

IRS Notice 2016-4 makes the following important changes to 2015 forms only:

  • Furnishing to individuals: Forms 1095-B and 1095-C will now be due March 31, 2016 (extended from February 1, 2016).
  • Filing with the IRS: Forms 1094-B and 1095-B, and 1094-C and 1095-C will now be due May 31, 2016, if paper filed and June 30, 2016, if e-filed (Extended from February 29, 2016, and March 31, 2016, respectively).

The same penalties for failing to timely file or furnish the information will apply to these new deadlines. However, since these extension are more generous than the automatic or special extensions generally available, no requests for additional extensions will be granted.

Individual taxpayers who enrolled in coverage through the Marketplace but have not received a Form 1095-B and/or 1095-C from their employer in time to file their personal return in 2016 will not be required to amend their return once they receive the form. This relief applies only to the 2015 tax year.

These extensions will certainly help businesses comply, but a best practice should be to file or furnish the required information as early as possible to help ensure you make all of the deadlines and avoid penalties. Learn more on the Affordable Care Act:What Small and LargeEmployers Need to Know To Comply in 2015. Contact Maura Corrigan at mcorrigan@cohencpa.com with specific questions.

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