IRS Grants 2016 ACA Extension

Article

IRS Grants Automatic Extension 2016 Affordable Care Act Forms 1095-B and 1095-C

On Nov. 18, the IRS announced via IRS Notice 2016-70 that it has issued transition relief for filing 2016 ACA Forms 1095-B and 1095-C, which extends the due date from Jan. 31, 2017, to March 2, 2017.

The extension only applies to the ACA Forms 1095-B and 1095-C that are due to the recipients and/or employees and not to the deadline for submitting the forms to the IRS. Filers must continue to file forms 1094-B, 1095-B, 1094-C and 1095-C to the IRS by Feb. 28, 2017, if they are paper filing, and by March 31, 2017, if they are e-filing the forms.

Notice 2016-70 also extends the transition relief for sections 6721 and 6722 penalties if a good faith effort is made in preparing the forms. This penalty relief is the same as it was for the 2015 forms. The penalty relief does not apply to a failure to file the forms in a timely manner. This notice applies only to 2016 forms and not to any future years. The IRS does not intend to extend this relief for the 2017 ACA forms.

Stay current on your favorite topics

SUBSCRIBE

Applicable Services

Take a deeper dive into this Insight’s subject matter.

Health Care Reform