We have been shouting the ACA reporting compliance deadlines from the rooftops for months now. Well, I guess it is a case of the “boy who cried wolf”. At the eleventh hour, the IRS has caved to a slew of complaints, concerns and continuing questions about the new (and complex) ACA reporting requirements and given employers a post-holiday present in the form of IRS Notice 2016-4. But is it too little too late? The Notice relaxes the current deadlines for those who are not ready to file (or still have unanswered questions preventing them from filing). Specifically, the Notice provides:
- an automatic 60-day extension for furnishing Forms 1095-C and 1095-B to employees, and
- an automatic three-month extension for filing the required forms with the IRS.
By “automatic”, we mean that no action is required (and nothing needs to be sent to the IRS) to avail yourselfRead More