The IRS this week granted a bit of a reprieve on some Affordable Care Act reporting requirements.
The IRS has extended the deadline for providing Form 1095-C to full-time employees from February 1, 2016 to March 31, 2016. The deadline for filing the forms with the IRS also was extended from February 29, 2016 to May 31, 2016 if filing on paper and from March 31, 2016 to June 30, 2016 for electronic filings.
Form 1095-C is the Employer Provided Health Insurance Offer and Coverage form and it must be distributed to all full-time employees. This Affordable Care Act requirement affects employers with 50 or more full-time employees.
The deadlines were extended because the Department of the Treasury concluded that some employers, insurers, and other providers of coverage need additional time to adapt and implement systems and gather, analyze, and report the information, HealthAffairs.org reported.
Contact us with any questions about this requirement.