IRS Delays 1094/1095 Reporting

 January 31st, 2016 for statements given to employees/individuals and February 29th for transmittal's filed to the IRS (and WAS March 31st if you are filing over 250 employee statements to employees).  Keep in mind, this is the information that the IRS will use to penalize the individual or the employer if they are not offering appropriate and affordable coverage and is used by the individual when preparing their personal tax returns. 

Now, the IRS announced that it will be giving employers additional time.  According to Notice Notice 2016-4, the IRS is delaying filing deadlines to allow employers, insurers and other providers additional time to get information together for the reporting.  The NEW deadlines are:

• Statements given to employees/individuals is now March 31, 2016 (Two Additional Months)

• Transmittal's filed to IRS (Paper) is now May 31st, 2016 (Three Additional Months)

• Transmittal's filed electronically in now June 30th, 2016 (Three Additional Months)

Hope you find this information helpful and Happy New Years!