IRS Extends Employers’ and Insurers’ Reporting Deadlines Under the ACA

 

On December 28, the U.S. Treasury and Internal Revenue Service announced a limited extension of the early 2016 due dates for the 2015 information reporting requirements for employers and insurers under the ACA. This is the first year that employers and insurers are required to report certain information about health coverage to employees, other individuals to the IRS.

Specifically, employers will have two additional months beyond the February 1 due date to provide individuals forms for reporting on offers of health coverage and the coverage provided. The deadlines to report this information to the IRS are extended by three months past the previous Feb. 29 due date for paper filings and the March 31 date for electronic returns.

 

According to a Treasury Department statement, “he vast majority of individual taxpayers will not be affected by this extension.  Like last tax filing season, most individuals will simply check a box on their tax return indicating they had health coverage for the entire year. These forms provide individuals with a record of their health coverage but do not need to be attached to the tax return.  This notice also provides guidance to the limited number of individuals who might be affected by the extension.  In particular, individuals who file their tax returns relying on other information about their health care do not need to amend their returns. The additional time provided to employers and insurers will also not materially affect the IRS’s ability to use the information provided to verify compliance.”