This call will start coming in the first week in Feb from employees who need the form to file their taxes. Which will cause more extensions. Which will cause an issue in 2017 OEP.
The IRS has announced an automatic extension of the deadlines for health care reform information reporting on Forms 1094 and 1095 for 2015. (As background, Forms 1094-B and 1095-B are filed by providers of health coverage (mostly insurers but also some self-insuring employers and others). Forms 1094-C and 1095-C are filed by applicable large employers. The forms provide information to the IRS and individuals for administration of the individual mandate, employer shared responsibility, and premium tax credits.) The extended deadlines are as follows:
Furnishing Statements to Individuals. The deadline for furnishing Forms 1095-B and 1095-C to individuals is extended by two months, from February 1 to March 31, 2016.
Filing Paper Returns With IRS. The deadline to file paper Forms 1094-B and 1094-C (and accompanying Forms 1095) with the IRS is extended by three months, from February 29 to May 31, 2016.
Filing Electronic Returns With IRS. The deadline to file electronic Forms 1094-B and 1094-C (and accompanying Forms 1095) with the IRS is extended by three months, from March 31 to June 30, 2016. (Electronic filing is mandatory for entities required to file 250 or more Forms 1095—see our article.)
These extensions are automatic, and they supersede any extension requests already submitted for 2015—those requests will not be formally granted. The new deadlines are more generous than otherwise available extensions, so they cannot be further extended. Those unable to meet the extended due dates are still encouraged to furnish and file as soon as possible. The IRS says it will take such furnishing and filing into consideration when determining whether to abate penalties for reasonable cause. Other considerations will include whether reasonable efforts (such as gathering data and transmitting it to a filing agent, or testing the ability to transmit information to the IRS) were made to prepare for reporting for 2015, and whether steps have been taken to comply with the reporting requirements for 2016. Notwithstanding the extensions, the IRS encourages employers and coverage providers to furnish statements and file returns as soon as they are ready.
The IRS has announced an automatic extension of the deadlines for health care reform information reporting on Forms 1094 and 1095 for 2015. (As background, Forms 1094-B and 1095-B are filed by providers of health coverage (mostly insurers but also some self-insuring employers and others). Forms 1094-C and 1095-C are filed by applicable large employers. The forms provide information to the IRS and individuals for administration of the individual mandate, employer shared responsibility, and premium tax credits.) The extended deadlines are as follows:
Furnishing Statements to Individuals. The deadline for furnishing Forms 1095-B and 1095-C to individuals is extended by two months, from February 1 to March 31, 2016.
Filing Paper Returns With IRS. The deadline to file paper Forms 1094-B and 1094-C (and accompanying Forms 1095) with the IRS is extended by three months, from February 29 to May 31, 2016.
Filing Electronic Returns With IRS. The deadline to file electronic Forms 1094-B and 1094-C (and accompanying Forms 1095) with the IRS is extended by three months, from March 31 to June 30, 2016. (Electronic filing is mandatory for entities required to file 250 or more Forms 1095—see our article.)
These extensions are automatic, and they supersede any extension requests already submitted for 2015—those requests will not be formally granted. The new deadlines are more generous than otherwise available extensions, so they cannot be further extended. Those unable to meet the extended due dates are still encouraged to furnish and file as soon as possible. The IRS says it will take such furnishing and filing into consideration when determining whether to abate penalties for reasonable cause. Other considerations will include whether reasonable efforts (such as gathering data and transmitting it to a filing agent, or testing the ability to transmit information to the IRS) were made to prepare for reporting for 2015, and whether steps have been taken to comply with the reporting requirements for 2016. Notwithstanding the extensions, the IRS encourages employers and coverage providers to furnish statements and file returns as soon as they are ready.
