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November 18, 2016

HRB123 - IRS Delays Disclosure Date 2016 For 1095 (article)

HRB 123 - IRS Delays Disclosure Date 2016 Form 1095

Released November 18, 2016 I Download as a PDF

The IRS has just issued guidance (Notice 2016-70) providing that the ACA-imposed due date for furnishing benefit statements (Form 1095-B and Form 1095-C) to individuals is extended from January 31, 2017 to March 2, 2017.  This presents an interesting situation since the paper filings to the IRS are due by February 28, 2017.  Like last year, the guidance provides that taxpayers can file their personal income tax return without having to attach the relevant Form 1095 to their tax returns.  Taxpayers should keep these Forms in their personal records.


So far, the filing due dates of the 2016 Forms 1094-B and 1095-B, and the 2016 Forms 1094-C and 1095-C reports to the IRS have not been extended.  These reports must be submitted to the IRS no later than February 28, 2017; or by March 31, 2017 if filing electronically.


In addition, this guidance reinstates the good faith compliance standard that was allowed for the 2015 filings due in 2016. 


This guidance is scheduled to be officially published on December 5, 2016. 

As future developments may occur, we will keep you apprised.

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