Due Date for Furnishing ACA Statements Extended to March 2, 2017

On Nov. 18, 2016, the Internal Revenue Service issued Notice 2016-70, which provides certain extensions related to Affordable Care Act reporting for 2016. Specifically, this notice: • Extends the due date for furnishing forms to individuals under Sections 6055 and 6056 from Jan. 31, 2017, to March 2, 2017 • Extends good-faith transition relief from penalties related…

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FINAL FORMS FOR ACA REPORTING RELEASED

The Internal Revenue Service (IRS) has released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. – Forms 1094-B and 1095-B are used by entities reporting under Section 6055, including self-insured plan sponsors that are not applicable large employers (ALEs). Final 2016 versions of these forms and final instructions were…

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