Affordable Care Act (ACA) Update
On Monday, December 2nd, the IRS announced that is extending the due date for furnishing ACA Forms 1095-B and 1095-C to individuals. Employers must send Form 1095-B and Form 1095-C to applicable individuals by March 2, 2020. The deadline was previously on January 31, 2020. Read the full notice here: Notice 2019-63
The notice also extends penalty relief for the 2019 reporting year for those that made a good-faith effort to comply with reporting requirements. Using a compliance agent or company to assist in the data preparation and submission to the IRS is one way to satisfy the IRS good-faith. Like previous years, this good-faith relief does not apply to failure to timely furnish or file.
Employers should note this extension only applies to furnishing forms to individuals and not the IRS. Employers must still file Form 1095-B and Form 1095-C with the IRS by February 28, 2020 if filing by mail, or by March 31, 2020 if filing electronically.
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