Tax News Highlights

Affordable Care Act Information Reporting Due Dates Delayed for 2015

Jan. 7, 2016

Large employers, generally defined as those with 50 or more full-time-equivalent employees, and health insurers are required to comply with new information reporting requirements for calendar year 2015 under the Patient Protection and Affordable Care Act. Based on consultation with taxpayers and other stakeholders, the IRS issued Notice 2016-04 delaying the due dates for forms required for 2015.

The due date to provide Forms 1095-B, “Health Coverage,” and 1095-C, “Employer-Provided Health Insurance Offer and Coverage,” to employees has been extended from Feb. 1, 2016, to March 31, 2016, and the due date for filing a copy of the forms with the IRS has been delayed from Feb. 29, 2016, to May 31, 2016, for paper filers, and from March 31, 2016, to June 30, 2016, for electronic filers.

The notice also indicates requests for extensions to provide Forms 1095-B and 1095-C will not be granted because the extended due dates apply automatically and are more generous than any extensions that normally would apply. No other extensions currently are available, but the IRS indicated that employers still may request penalty relief for late filed forms if they can demonstrate they made reasonable efforts to timely prepare and file the forms.



In This Issue

Federal Tax
Authors
Dave Horvath
Managing Director
Allen Tobin