ACA Reporting Deadline Extended and the End of “Good Faith” Compliance
NOVEMBER 24, 2021
On November 22, 2021, the Internal Revenue Service (IRS) published proposed regulations that introduce significant changes to the Affordable Care Act (ACA) reporting process for both large and small employers. Section 6055 and 6056 of the ACA reporting regulations require that employers furnish Forms 1095-B and/or Forms 1095-C to employees no later than January 31 st of the year following the applicable calendar year. By: Jennifer Berman, CEO, MZQ Consulting.