Important Dates for Form 1094C
- 1 4 most Important Dates for Form 1094C
- 1.1 January 31st – Deadlines for Furnishing Forms 1095-C
- 1.2 February 28th – Deadline for Filing Forms 1094-C and 1095-C with the IRS
- 1.3 March 31st – Extension Deadline for Filing Forms 1094-C and 1095-C with the IRS
- 1.4 June 30th – Deadline for Responding to IRS Notices
- 2 Penalties for Failing to Meet Deadlines
Form 1094-C is an important document that employers need to file with the Internal Revenue Service (IRS) annually. This form is used to report information about the employer’s compliance with the Affordable Care Act (ACA) and the employer-shared responsibility provisions.
If you are an employer, it is important to be aware of the key dates and deadlines for filing Form 1094-C. In this article, we will discuss the most important dates and deadlines that you need to keep in mind.
4 most Important Dates for Form 1094C
January 31st – Deadlines for Furnishing Forms 1095-C
The first key date to keep in mind is January 31st. This is the deadline for furnishing Forms 1095-C to employees. Form 1095-C is a document that reports the health insurance coverage offered by the employer to its employees. Employers must provide this form to all full-time employees by this date.
February 28th – Deadline for Filing Forms 1094-C and 1095-C with the IRS
The next important date is February 28th. This is the deadline for filing Forms 1094-C and 1095-C with the IRS. Employers must file these forms by this date to avoid any penalties. If you are filing paper forms, they must be postmarked by this date. If you are filing electronically, the forms must be submitted by the close of business on February 28th.
March 31st – Extension Deadline for Filing Forms 1094-C and 1095-C with the IRS
If you are unable to meet the February 28th deadline, you can apply for an extension. The extension deadline is March 31st. To apply for an extension, you must file Form 8809, Application for Extension of Time to File Information Returns.
June 30th – Deadline for Responding to IRS Notices
If the IRS finds any errors or discrepancies on your forms, they may issue a notice. The deadline for responding to IRS notices is June 30th. It is important to respond promptly to these notices to avoid any penalties or further actions from the IRS.
Penalties for Failing to Meet Deadlines
It is important to keep these deadlines in mind and to file your forms on time. If you fail to meet these deadlines, you may face penalties from the IRS. The penalties for failing to file Forms 1094-C and 1095-C on time can range from $50 to $270 per form. The penalties for failing to furnish Forms 1095-C to employees can range from $50 to $270 per form.
In conclusion, keeping track of these important dates is essential for any employer who is required to file Form 1094-C. Filing on time and responding promptly to any notices from the IRS will help you avoid penalties and ensure that you are in compliance with the Affordable Care Act.
If you need help with filing Form 1094-C or if you have any questions, it is a good idea to consult with a professional tax preparer or an attorney who specializes in the Affordable Care Act. Contact Boom Tax. They can provide you with the information and guidance that you need to ensure that you are in compliance with the law.
