Initial Post - IRS 2016!

Premier A&A Solutions will be providing accounting blogs designed to summarize information or provide a quick read.
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Let's begin 2016 with information that you will need to know for 2016.  The IRS Press Center has announced that there is a limited extension of the early 2016 due dates for the 2015 Information reporting requirements for employers and insures under the Affordable Care Act (ACA).  This is the first year that employers and insurers are required to report certain information about health coverage to employees, individuals, and the IRS.

Note that the IRS will begin accepting this reporting this month.  There is an extension of two months for the February 1st due date for employers to provide individuals with forms reporting on offers of health coverage and coverage provided.  The February 29th and March 31st deadlines for reporting this information to the iRS are extended by three months.

This should give employers additional time to implement systems and procedures in this first year. 

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