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Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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A Post-Thanksgiving Treat: IRS Extends Certain ACA Reporting Deadlines and Transition Relief
The IRS provided welcome news to employers preparing to comply with the Affordable Care Act’s (“ACA”) information reporting requirements in early 2020 for the 2019 calendar year. In particular, Notice 2019-63 (the “Notice”) extends the deadline to furnish Forms 1095-B … Continue reading
Posted in Health & Welfare Plans, Health Care Reform
| Tagged ACA, deadlines, extension, Form 1095-B, Form 1095-c, good faith, notice 2019-63, reporting
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A Little Breathing Room: IRS Extends ACA Reporting Deadline and Good Faith Penalty Relief
The IRS delivered welcome news to employers gearing up to meet the Affordable Care Act’s (“ACA”) information reporting deadlines for the 2016 calendar year. In Notice 2016-70, the IRS extended the deadline to furnish Forms 1095-B and 1095-C to employees. … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged ACA, ACA reporting, deadline, filing extension, Form 1095, Form 1095-B, Form 1095-c, good faith, good faith relief, information reporting, IRS, penalties
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Late Or Incorrect Forms 1095-C: The IRS Provides Relief, But Only For Employers Acting In Good Faith To Comply Or Who Missed The Deadline Due To Reasonable Cause
Many employers struggled to furnish correct Forms 1095-C to employees by the March 31, 2016 deadline. Section 6721(a)(2) of the Internal Revenue Code provides penalties for failure to furnish Forms 1095-C to individuals by the deadline. Although the presumptive penalty … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged ACA, Affordable Care Act, correction, deadline, Form 1095-c, furnish forms, good faith, incomplete form 1095-c, incorrect form 1095-c, IRS, reasonable cause
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