Music, hi! I'm Dan Cooper. Welcome to this episode of Compliance Minute. On November eighteenth, 2016, the IRS released Notice 2016-70. 2. Notice 2016-70 explains that the deadline for furnishing 2016 forms 1095-C and 1095-B to employees has been delayed by one month. 3. Specifically, the deadline has been extended from January 31st, 2017, to March 2nd, 2017. 4. However, it's important to note that while the furnishing deadline was extended, the filing deadline remains unchanged. 5. The filing deadline will remain as February 28th, 2017, if not filing electronically, or March 31st, 2017, if filing electronically. 6. Despite this, the extension provides a much-needed breather for employers who were scrambling to complete and send out their forms by the original January 31st deadline. 7. Furthermore, the notice also contains some other good news. It extends the good-faith penalty relief from 2015 to 2016. 8. The good faith rule grants relief from penalties to reporting entities that can demonstrate their sincere efforts to comply with the information reporting requirements. 9. For more information on this and other topics, please visit our knowledge center at corp cencom. Thank you.
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Video instructions and help with filling out and completing Fill Form 1094 B Furnish
