(CN) - The Internal Revenue Service says it is extending the due dates for the 2015 Patient Protection and Affordable Care Act information reporting requirements.
The reporting requirements are extended for providing information to individuals and for filing with the IRS for insurers, self-insuring employers, and certain other providers of minimum essential coverage under section 6055 of the Internal Revenue Code, and the information reporting requirements for applicable large employers under section 6056 of the code.
The date for providing the information to individuals is extended about two months, and the date for filing with the IRS is extended about three months.
The forms involved for individuals are 2015 Forms 1095-B and 1095-C. The forms involved for filing with the IRS are 2015 Forms 1094-B, 1095-B, 1094-C and 1095-C.
The IRS extended the dates because the Department of the Treasury and IRS had discovered that some employers, insurers, and other providers of minimum essential coverage needed additional time to adapt and implement systems and procedures to gather, analyze, and report this information.
While the IRS has extended the deadlines, it will accept filings of the information returns beginning in January 2016, and encourages filing the reports as soon as they are ready.
Since some individuals might not receive their form by the time they file their 2015 tax returns, for 2015 only, individuals who rely upon other information received from employers about their offers of coverage for purposes of determining eligibility for the premium tax credit when filing their income tax returns need not amend their returns once they receive their Forms 1095-C or any corrected Forms 1095-C. Individuals need not send this information to the IRS when filing their returns but should keep it with their tax records.
Similarly, for 2015 only, individuals who rely upon other information received from their coverage providers about their coverage for purposes of filing their returns need not amend their returns once they receive the Form 1095-B or Form 1095-C or any corrections, and they need not send this information to the IRS when filing their returns but should keep it with their tax records.
The IRS notice extending the reporting dates will appear in the Internal Revenue Bulletin 2016-3 dated Jan. 19, 2016.