29 December 2015

Happy New Year: Employer ACA Reporting Delayed!

The IRS just issued welcome relief to employers regarding the new ACA reporting due in the first quarter of 2016. Here are the new deadlines:

2015 Form 1095-C was required to be distributed to employees by February 1, 2016. The new deadline is March 31, 2016. While some employees may need the information provided in the 1095-C to file their tax return, the actual Form 1095-C is not required to be attached to the 1040 so the delay will not necessarily prevent employees from filing their tax returns earlier. Further, employees can rely on any exchange determination as to whether their employer coverage was affordable as well as any information provided by their employer before the 1095-C is furnished regarding coverage affordability in 2015.

2015 Form 1094-C and copies of the 1095-Cs were required to be filed with the IRS by no later than February 29, 2016 (if mailed) or March 31, 2016 (if filed electronically). New deadlines are May 31, 2016 (if mailed) or June 30, 2016 (if filed electronically). Cheers!