The deadline for filing Forms 1094-C/1095-C of the Affordable Care Act with the IRS has been extended to May 31 (June 30 if filing electronically). The deadline for distributing Form 1095-C to employees has been extended to March 31.
The Internal Revenue Service (IRS) has extended the deadlines to file and issue new information returns mandated under the Affordable Care Act (ACA). The new forms—1094-C and 1095-C—go to the IRS and to full-time employees, the National Club Association reported in a Member Alert.
The deadline for filing Forms 1094-C/1095-C with the IRS has been extended to May 31, 2016 (June 30, 2016 if filing electronically). The deadline for distributing Form 1095-C to employees has now been extended to March 31, 2016.
Under the previous deadlines, club leaders were to file the 1094-C/1095-C forms with the IRS by February 29 (or March 31 if filing electronically). The 1095-C form was to be issued to the club’s full-time employees by January 31.
These extensions are only valid in 2016. Club leaders are reminded to make the collection of this information a standard practice each year. With this automatic extension, the IRS indicated it would not grant any further extensions. However, if a club is having difficulty complying with these reporting responsibilities, the IRS will take into account whether the club has made reasonable efforts to prepare for them and the extent to which it is making efforts to comply in a timely manner when establishing late filing penalties.
Because full-time employees will need the information found on the 1095-C form to assist them in filing their own taxes, it is advisable for club leaders to communicate to those employees that they may not have that form until two weeks before their individual taxes are due. Those employees may still file their taxes before they receive the 1095-C form, but they will need to provide the necessary information from other sources. Those employees will not need to file an amended return when they ultimately do receive their 1095-C.
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