IRS Extends ACA Deadline Delivery for 1095 Forms

The Affordable Care Act (ACA) requires Applicable Large Employers (ALEs), employers with 50 or more full-time employees, to submit the appropriate forms to the IRS and distribute these forms to employees.  Before the pandemic, the deadline to submit these forms was January 31 for the previous tax year. 

Recently, the IRS issued a 30-day extension to report 2020 forms.  This change pushed the deadline from January 31, 2021 to March 2, 2021.  The intention was to have the rule be temporary and go back to the previous deadline of January 31 for the 2021 reporting year. 

IRS released proposed regulations making permanent the 30-day automatic extension for furnishing Forms 1095-B and 1095-C to individuals.  Such forms will now be due each year on March 2 (or the next business day if March 2 falls on a weekend/holiday).

The guidelines are now as follows:

Employers that file 250 or more information returns with the IRS must file the returns electronically.

Companies can obtain a 30-day extension on filing forms with the IRS by submitting Form 8809 —Application for Extension of Time to File Information Returns — before the filing due date.

If your company still needs to file ACA forms, let Time Equipment Company provide the ACA solution for you with Visual ACA.  Visual ACA includes the following:

1. Managing the look-back method of employee status determination
2. Provide ongoing evaluation of full-time, part-time, and variable hour employees
3. Identify when you must offer qualifying employees health insurance
4. Determining if your company is an Applicable Large Employer

In addition, for a nominal fee, Visual ACA can prepare the company’s 1094-C and employee’s 1095-C documentation and submit them to the IRS.

For more information on Visual ACA, contact Time Equipment Company at sales@timeequipment.com or (800) 997-8463