IRS Extends Due Date for ACA Forms

On November 18, the IRS issued Notice 2016-70, which extends the due date to send individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017 to March 2, 2017. Therefore, it will not be necessary for taxpayers to request an extension for sending those forms to the recipients, and no further extensions are available.

The IRS did not, however, extend the deadline for filing these forms with the IRS. The forms, along with Form 1094-B or 1095-B, as applicable, must still be filed with the IRS by February 28, 2017 (for those filing less than 250 forms on paper) and March 31, 2017 (for those filing electronically). An automatic 30-day extension is available for filing the forms with the IRS by completing Form 8809. The IRS also extended its relief from penalties under Sections 6721 and 6722 for taxpayers that make a good faith effort to comply with the 2016 reporting requirements, provided statements are furnished to individuals and filings are made with the IRS on a timely basis.

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About the Author(s)

Mike Walston is a Principal in HBK's Youngstown office. He has been with HBK since 2013 and has led HBK's Affordable Care Act group since 2015. He focuses on tax compliance and consulting as well as financial statement compilation and review engagements and is a member of the firm's Tax Advisory Group. Before joining HBK, Mike spent eight years with Deloitte Tax LLP in Cleveland, Ohio. His tax experience includes compliance and consultation for both public and private companies, Estate and Gift tax matters, Trust taxation, and state and local tax compliance. He has extensive experience working with partnerships, S corporations, and consolidated corporations.

Mike is a member of the AICPA and a Certified Public Accountant for both the State of Ohio and State of Pennsylvania.

Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.