On December 28 the IRS published Notice 2016-4 which provides an extension of the due dates for the ACA employer mandate reporting. The due date for furnishing IRS 1095-B or 1095-C to employees has been extended for two months from 2/1/2016 until 3/31/2016. The due date for electronically filing 1094-B or 1094-C data to the IRS has been extended for three months from 3/31/2016 until 6/30/2016.
This extension of deadlines is in response to the IRS’s determination that some employers and insurers still “need additional time to adapt and implement systems and procedures to gather, analyze, and report this information.” While some employees may be affected by this delay, in general, there will be very little impact to employees’ ability to prepare their own taxes. The IRS recently published an online article in which they clearly stated that individuals do not need to have these forms in order to file their taxes.
To learn more about ACA reporting requirements and upcoming deadlines, visit https://www.treasury.gov/press-center/press-releases/Pages/jl316.aspx