Extended Due Date to Furnish Forms 1095-B and 1095-C to Individuals

Rascon CPA Firm, Tax, Bookkeeping, Payroll, ConsultingThe IRS has issued Notice 2016-70 extending the due date for furnishing to individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017, to March 2, 2017.

Health insurers and applicable large employers are required, by Code Secs. 6055 and 6056 respectively, to file and furnish annual information returns and coverage statements. Penalties are imposed under Code Secs. 6721 and 6722 for violations of these requirements.

A ClientRelate Bulletin has been issued that includes a search to assist ClientRelate customers with identifying taxpayers affected by this extension.