Tuesday, December 8, 2015

More Time to File: ACA Forms and Extensions

The fact that the time to file the new IRS Affordable Care Act forms is right around the corner might be stressing you out. And that first sentence might be an understatement if you know this means a lot more paperwork for you and your business.

(Although we do use the term “paperwork” loosely because there’s no paper with an e-filing service like us!)

Since we care about your stress levels here at ExpressACAForms, we first want to take a moment to remind you to take a deep breath in, 1...2...3...4, and out, 1...2...3...4. And if that’s not enough to slow down your heart rate, here’s some reassurance that filing your ACA forms doesn’t have to be as stressful as you think:

The IRS is Giving First-Time Filers a Break
And the first-timers in this case are all of the filers! For 2015 filings (which are coming up in January), the IRS won’t impose penalties for incorrect or incomplete information. BUT you will only be given relief from these penalties if you can prove that you made good faith efforts to comply with the reporting requirements.

You Can Apply for an Extension
Like with other information returns, you can apply for an extension of time to file ACA Forms 1094 and 1095. Whether you’re filing Form B or C, you can get an automatic 30-day extension of time to file by completing Form 8809 before your original due date for the forms (for paper filers, that’s February 29, 2016 and for e-filers, that’s March 31, 2016). You won’t even need to give a reason why you’re filing late. Added bonus: you can e-file Form 8809 through our sister program ExpressIRSForms for only $2.99! Now, keep in mind that even if your extension is approved, you still have to furnish your 1095 forms to your recipients by January 31, but…

You Can Apply for an Extension for That Too
So you can’t get an extension for providing forms to your recipients with Form 8809, but you can get one if you request for one before January 31. To get this extension, you’ll need to send a letter to the following address:

Internal Revenue Service, Information Returns Branch 
Attn: Extension of Time Coordinator
240 Murall Drive
Mail Stop 4360
Kearneysville, WV 25430

In your letter, you’ll need to include your name, Tax ID Number (TIN), address, the type of return (in this case, 1095-B or 1095-C), a statement that your request is for providing statements to recipients, a reason for the delay, and a signature of the filer or an authorized agent. If your request is approved, you’ll generally be given a maximum of 30 extra days to furnish the forms.

And Just to Scare You Straight
If you fail to comply with the ACA reporting requirements, you may be subject to penalties imposed by the IRS. The penalty for failure to file is generally $250 per form, with the total penalty for a calendar year not exceeding $3,000,000. And the IRS has special rules in place that can increase the per-statement and total penalties if you intentionally disregard filing. So it’s probably best to stay on the IRS’s good side.

If you need any help e-filing your ACA forms, or have any questions along the way, the ExpressACAForms support team is here! We’re available Monday through Friday from 9 a.m. to 6 p.m. EST for phone (704-839-2270) and chat support, and 24/7 at

No comments:

Post a Comment