The IRS has announced extended due dates and penalty relief for 2016 information reporting mandated by the Affordable Care Act (ACA). The ACA requires detailed information reporting for insurers, self-insured employers, certain other providers of minimum essential coverage under IRC Sec. 6055 , as well as employers with 50 or more full-time employees. Employers will now have until 3/2/17, rather than 1/31/17, to issue the 2016 forms to individuals for reporting about the health coverage on Form 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage). Good-faith transition relief from penalties under IRC Secs. 6721 and 6722 for 2016 information reporting under IRS Secs. 6055 and 6056 is also extended. Notice 2016-70, 2016-49 IRB.
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