WASHINGTON (12/30/15)--The U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced a limited extension of the early 2016 due dates for the 2015 information reporting requirements for employers and insurers under the Affordable Care Act (ACA).
The joint notice extends by two months--to April 1--the Feb. 1 due date for employers and insurers.
A department release noted that this is the first year that employers and insurers are required to report certain information about health coverage to employees, other individuals, and to the IRS.
The IRS declared that it is all set up to begin accepting the information in January, and the agency encourages employers and insurers to begin reporting to employees and other individuals as soon as possible.
However, in consideration of comments received by stakeholders, Assistant Secretary for Tax Policy Mark Mazur said the IRS decided that an extension is appropriate to provide employers and insurers a limited more time to meet these requirements, while maintaining the ACA reporting requirement for 2015.