The IRS has extended the filing deadline for the required Affordable Care Act (ACA) 1095-C forms. You now have 60 more days to product 1095-Cs and 90 more days to send copies to the IRS.
- March 31, 2016 - date by which employees must have 1095-Cs
- May 31, 2016 - date by which paper returns must be mailed to the IRS
- June 30, 2016 - date by which electronic returns must be transmitted to the IRS
The official notice from the IRS can be found here:
Even with this extension, you should not leave reporting until the last minute. You could face fines of up to $500 per missing form. Avoid penalties and rely on experts who have build ACA compliance software that will auto-calculate each employee’s hours of service and your health coverage affordability.
The best way to avoid these penalties is to use fail-safe software that will auto-calculate each employee’s hours of service and the affordability of your health care offerings. The software will generate 1095-C forms, completed for each employee.
If you act now you still have time to get the proper procedures in place for Affordable Care Act reporting. View our on demand webinars at the links below that will give you an overview of two great ACA software products, Greenshades and Integrity Data. Both of these systems integrate directly with Microsoft Dynamics GP and many other ERP software systems.
Please contact DFC Consultants with questions about either solution. We would be happy to get your ACA reporting software up and running in time to meet the IRS deadline. Don't risk the penalties!