The IRS has announced that electronic Affordable Care Act (ACA) information returns may continue to be filed after the filing deadline, which was June 30, 2016.
These returns are required under Internal Revenue Code (Code) Sections 6055 and 6056, which were created by the ACA. Certain employers must file their returns electronically through the ACA Information Returns (AIR) Program.
The IRS will not assess penalties for late filing on reporting entities that have made legitimate efforts to file information returns, if they continue to make efforts and complete the process as soon as possible. In addition, penalties may be waived in some cases, for reasonable cause.
Employers that missed the June 30 deadline should continue to make efforts to file their returns as soon as possible.
Employers that are not electronic filers but that missed the May 31, 2016, paper filing deadline should also complete the filing of paper returns as soon as possible.
Learn more here.
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