Wednesday, December 5, 2018
The Internal Revenue Account (“IRS”) has released Notice 2018-94, which extends the due date for capacity the 2018 Form 1095-B and Form 1095-C to individuals from January 31, 2019 to March 4, 2019.
This addendum is automatic, and, as a result, the IRS will not formally acknowledge to any awaiting addendum requests for capacity the forms to individuals. In addition, filers do not charge to abide a appeal or affidavit to booty advantage of this extension. Despite the extension, the IRS is auspicious administration and added advantage providers to accouter the 2018 statements as anon as they are able.
Forms 1095-B are acclimated to address whether individuals accept minimum capital advantage (“MEC”) and, therefore, are not accountable for the alone aggregate albatross payment. Forms 1095-C are acclimated to address advice about offers of bloom advantage and acceptance in bloom advantage for employees, to actuate whether an employer owes an employer aggregate albatross payment, and to actuate the accommodation of advisers for the exceptional tax credit. Beneath the Affordable Care Act’s (“ACA’s”) employer mandate, applicative ample administration (“ALEs”) (those employing on boilerplate at atomic 50 full-time advisers and full-time equivalents in the above-mentioned agenda year), are appropriate to action MEC to at atomic 95% of their full-time advisers (and their dependents) that is “affordable” and provides “minimum value” to abstain applicative penalties. 
Notice 2018-94 does not extend the due date for filing the Forms 1094-B, 1095-B, 1094-C and 1095-C with the IRS, with the due date remaining February 28, 2019, if not filing electronically, or April 1, 2019, if filing electronically. Administration may still access an automated 30-day addendum to book the appropriate forms by filing a Form 8809 with the IRS on or afore the forms’ due date. An employer may additionally accept an added 30-day addendum beneath assertive accident conditions.
Employers who abort to accede with the continued due dates for capacity Forms 1095-B and 1095-C to individuals or for filing the Forms 1094-B, 1095-B, 1094-C and 1095-C are accountable to penalties. However, an employer that fails to accommodated the accordant due dates should still accouter and book the appropriate forms as anon as possible. The IRS will booty such capacity and filing of the forms into free whether to abatement penalties for reasonable cause.
Below is a blueprint of the applicative deadlines for 2018 Forms and the applicative advertisement entities:
Deadline for 2018 Forms
March 4, 2019
To the IRS:
February 28, 2019, if filing by paper; or
April 1, 2019, if filing electronically.
Forms 1094-C and 1095-C for employees.
Either B- or C-Series forms for non-employees.
Similar to the good-faith abatement provided in 2015, 2016, and 2017, the IRS will not appoint penalties on administration that can appearance that they fabricated good-faith efforts to accede with the requirements for agenda year 2018. This abatement is accessible alone for incorrect and abridged advice appear on the statements or returns, such as missing and inaccurate aborigine identification numbers and dates of birth. In free acceptable faith, the IRS will accede whether an employer fabricated reasonable efforts to accede with the requirements (e.g., acquisition and transmitting the all-important abstracts to an abettor or testing its adeptness to address information).
Good acceptance abatement is not accessible to administration who accept bootless to appropriate accouter or book a account or accede with the regulations. However, if an employer is backward filing a return, it may be accessible to get a amends abatement for failures that are due to reasonable account and not adamant neglect. To authorize reasonable cause, an employer charge appearance that it acted in a amenable address and that the abortion was due to cogent mitigating factors or contest above its control.
Individuals do not charge to delay to accept the Form 1095-C to book their 2018 tax returns, but should accumulate these forms for their records. They may await on added advice provided by their administration or added account providers to actuate their accommodation for a exceptional tax subsidy and acknowledging whether they accept had MEC to abstain an alone authorization amends in 2018. Individuals do not charge to accelerate the advice they relied aloft to the IRS back they accelerate their returns.
Notably, while the alone aggregate albatross acquittal is bargain to aught alpha January 1, 2019, the IRS will abide to abstraction whether and how the advertisement requirements should change, if at all, for approaching years. In the meantime, administration and added account providers should abide to aggregate advice in 2019 bare to accede with all ACA advertisement requirements.
 The penalties for abortion to accede with these ACA requirements could aftereffect in penalties beneath Internal Revenue Code Section 4980H(a) (“A Penalty”) and Section 4980H(b) (“B Penalty”). The “A Penalty” is $2,320 in 2018 ($2,500 in 2019) for anniversary full-time agent (minus 30 employees) of the employer, including full-time advisers who accept MEC from addition employer plan or addition source. The “B Penalty” is $3,480 in 2018 ($3,750 in 2019) for anniversary agent that obtains a exceptional tax credit.
©2018 Epstein Becker & Green, P.C. All rights reserved.
Form 7 C Why You Must Experience Form 7 C At Least Once In Your Lifetime – form 1095 c
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