WHIPPANY, N.J. – The tax professionals at WithumSmith+Brown, PC (Withum), a leading certified public accounting and advisory firm, would like to remind employers that the deadline extension to provide 2017 Affordable Care Act Information statements to employees is this Friday, March 2, 2018. The Internal Revenue Service (IRS) had extended the deadline from January 31 to March 2.
The statements that were impacted include Form 1095-B, Health Coverage, and Form 1095-C, Employer-Provided Health Insurance and Coverage.
“This extension was automatic and nothing needed to be filed with the IRS to obtain the extension,” explained Tony Panico, a Withum partner. “However, as a result of this automatic extension, the IRS will not grant any further 30-day extensions past the March 2, 2018 date.”
Panico also noted the same automatic extension is not available for filing these forms with the IRS. They are still due to be filed with the IRS by February 28, 2018, if not filing electronically, and April 2, 2018 if filing electronically. This includes the filing of the following with the IRS as well:
- Form 1094-B, Transmittal of Health Coverage Information Returns
- Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
In addition, the IRS also has extended the Internal Revenue Code §6721 and §6722 good-faith penalty relief to the 2017 tax-year filings.
Established in 1974, Withum is a regional CPA and advisory firm with offices across eight states and Grand Cayman, nearly 1,000 staff members and annual revenue of $170 million. The firm is committed to providing quality services and innovative solutions to businesses, not-for-profits, individuals and communities. As one of the nation’s largest accounting firms, Withum also is a member of HLB International, a worldwide network of independent professional accounting firms and business advisers committed to assisting clients to build and expand globally.