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In Notice 2020-76, the IRS again automatically extended the due date for furnishing individuals with the 2020 Forms 1095-B and 1095-C to Ma(see Tax Alert 2020-2401).
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The IRS has granted an automatic 30-day extension for Forms 1095-C every year since the ACA's enactment. Taxpayers may rely on 1.6055-1 and 301.6056- 1 of these proposed regulations for calendar years beginning after December 31, 2020, and before the date a Treasury Decision finalizing the regulations is published in the Federal Register."Įven though this regulation is proposed, it has immediate impact for 2021 furnishings in 2022 because the automatic 30-day extension can be relied upon for the 2021 tax year.Ĭomments on the permanent extension are due 60 days after the proposed regulations are published in the Federal Register. The preamble to the proposed regulations contains the following concerning the regulations' effective date: "The regulations under 1.6055-1 and 301.6056-1, once final, are proposed to apply for calendar years beginning after Decem. The proposed regulations would also eliminate good faith relief from accuracy-related penalties, beginning with the 2021 tax year. Until the regulations are finalized, taxpayers may rely on these proposed regulations for calendar years beginning after December 31, 2020, so this 30-day extension can be relied on for the 2021 tax year, making March 2, 2022, the due date for furnishing these forms. In an advanced copy ( REG-109128-21) of proposed regulations, the IRS would permanently extend the Affordable Care Act (ACA) reporting deadline for applicable large employers (ALEs) to furnish Form 1095-C, Employer-Provided Health Insurance Offer and Coverage to employees to 30 days after January 31. IRS proposes permanently extending Affordable Care Act reporting deadline until March 2, 2022