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The Internal Revenue Service (IRS) released notice yesterday (Notice 2016-4) that it is extending the 2015 tax year filing deadlines for health benefits reporting required by the Affordable Care Act (ACA).
This guidance applies to filings required by both small and/or applicable large self-funded employers, Forms 1094-B and 1095-B and Forms 1094-C and 1095-C respectively.
The new deadlines for these IRS filings are as follows:
It’s important to remember that these filings are still required for the 2015 tax year. Only the deadlines at this point have been delayed; however, the IRS will accept filings as early as January.
The IRS encourages employers to meet the new filing deadlines as requests made for additional time will not be granted and failure to meet the new deadlines may result in a penalty.
Employers should still furnish and file their 1094/95 forms even if they are not able to meet the new deadlines. The IRS will determine on a case-by-case basis whether an employer's efforts to meet the deadlines were deserving of a penalty waiver.
For more information, contact Jon Alexander at (949) 885-2330.
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