Filing extensions may not be available to employers for the fast-approaching Affordable Care Act health coverage information reporting deadline.
IRS representatives indicated during a Dec. 2 monthly payroll teleconference that penalty relief would not necessarily be granted for failure to file 2015 ACA returns just because filers don’t have sufficient electronic systems.
Penalty relief for failing to properly file 2015 ACA returns in 2016 was intended for those that made a good-faith effort to comply with the ACA and filed the forms, not those that were unable to file the forms, said Martin Pippins, director for customer service and stakeholder relations of the IRS's ACA office.
Employers must file the information returns to show that they did or did not offer coverage to their employers in 2015. Applicable Large Employers must also submit a coverage statement to employees. Employers who had 50 or more full-time employees or full-time equivalent employees are considered ALEs.
Information reporting includes Forms 1094-C and 1095-C, for ALEs and Forms 1094-B and 1095-B, for employers that are self-insured but not ALEs. The forms are due to the IRS Feb. 29, 2016, if filed on paper and by March 31, 2016, if filed electronically. Form 1095-C is due to employees by Feb. 1, 2016.
The IRS has released guidance relating to information returns, in preparation of the first required filing in 2016:
See related story, IRS May Not Grant Relief for Late ACA Form Filings.
Design benefit plans and respond quickly and confidently to a range of potential issues with a free trial to the Benefits Practice Resource Center.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)