IRS Extends Deadline for ACA Reporting Requirements

The Internal Revenue Service (IRS) in Notice 2016-4 extended the deadline for the employer reporting requirements under the Affordable Care Act (ACA).

Due dates were extended for the 2015 Form 1095-B, Health Coverage (and the 1094-B transmittal); and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage (and the 1094-C transmittal). If filing in hard copy, the dates were extended from February 29 to May 31, 2016; and if filing electronically, the dates were extended from March 31 to June 30, 2016. The due date for providing the information statements to individuals was extended from February 1 to March 31, 2016. 

The IRS is encouraging employers and insurers to begin reporting to employees and other individuals as soon as possible and is prepared to accept the reporting in January.

Under the Affordable Care Act’s reporting requirements, large employers (those with 50 or more full-time employees or full-time equivalents) are required to gather numerous pieces of data on a monthly basis and report them annually to the IRS. The information reported is intended to enable the IRS to verify compliance with the individual and employer mandates, and to administer subsidies for qualified individuals who purchase coverage through the insurance exchanges.

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