Overview

On Nov. 29, 2018, the Internal Revenue Service (IRS) issued Notice 2018-94 to:

  • Extend the due date for furnishing forms under Sections 6055 and 6056 for 2018 from January 31, 2019 to March 4, 2019
  • Extend good-faith transition relief from penalties related to 2018 information reporting under Sections 6055 and 6056.

Notice 2018-94 does not extend the due date for filing forms with the IRS for 2018. The due date for filing with the IRS under Sections 6055 and 6056 remains Feb. 28, 2019(April 1, 2019, if filing electronically, since March 31, 2019, is a Sunday).

 

Action Steps

The IRS is encouraging reporting entities to furnish statements as soon as they are able. No request or other documentation is required to take advantage of the extended deadline.

 

Highlights

  • The deadline for furnishing individual statements under Sections 6055 and 6056 for 2018 has been extended for 32 days.
  • Good-faith transition relief from penalties has also been extended for 2018 reporting.
  • The due date for filing returns with the IRS for 2018 is not affected.

 

Important Dates

March 4, 2019 | Deadline for furnishing 2018 Forms 1095-B and 1095-C to individuals

February 28, 2019 | Deadline for 2018 filing with the IRS in paper form

April 1, 2019 | Deadline for 2018 filing with the IRS electronically

 

 

 

Source: © 2018 Zywave, Inc.