December 30, 2015Client Alert

Due Dates for Affordable Care Act Reporting Extended

The Internal Revenue Service (IRS) announced it is providing employers additional time to gather information and prepare the reporting forms for this first year for filing information returns under the Affordable Care Act. IRS Notice 2016-4 provides the following extended deadlines for the 2015 calendar year:

   Original Deadline Extended Deadline 
Furnishing Statements to Individuals   February 1, 2016  March 31, 2016
Paper Filing with IRS  February 29, 2016  May 31, 2016
Electronic Filing with IRS  March 31, 2016   June 30, 2016

As these new deadlines apply to all filers, the IRS will not be responding to any pending extension requests relating to the Forms 1094-B/1095-B and 1094-C/1095-C.

Nevertheless, employers are encouraged to provide the information and file the returns as soon as they are complete. Failure to comply with the extended due dates may result in the imposition of penalties as prescribed by the code.

Further, the IRS has announced for the 2015 tax year only that individuals who have not received the information statement concerning their health insurance coverage prior to filing their income tax returns may rely upon other information received from the coverage providers about their health insurance coverage. These individuals will not need to amend their tax return filing upon receipt of the appropriate information statement.

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