Who Form 1094 B Furnished 2022-2023

Instructions and Help about Who Form 1094 B Furnished

Hi I'm Dan Cooper scene and welcome to this episode of compliance minute on December 28 2023 the IRS issued notice 2023 for delaying important 2023 deadlines for ACA information reporting specifically the deadline for furnishing the forms 1095 C and 1095 be two individuals was delayed by two months from February 12 March 31 and the deadline for filing the forms with the IRS was delayed by three months from February 29 to mate 31 and from March 31 2 jun 30 for electronic filings the IRS extension came as a big relief to employers who were in many cases struggling at the end of the year with completing the forms the IRS explained that this extension was done because some employers insurers and other coverage providers needed quote additional time to adapt and implement systems and procedures to gather analyze and report the information unquote in addition to the extension of deadlines the notice explains that 4 2023 only individuals who rely upon information received from their employers to determine their eligibility for a premium tax credit on an exchange or from the coverage providers to determine their exposure to a penalty under the FCA's individual mandate rules need not amend their returns once they receive their forms 1095 see or 1095 be also they do not need to send these forms to the IRS when filing their returns but should keep them with their tax records the notice also explains that because the extensions granted under the notice are more generous than extensions of time to file or furnish the forms that have already been submitted to the IRS the IRS will not be formally granting any such extensions for more information on this and other topics please visit our knowledge center at corp cencom thank you.