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Paychex launches Coronavirus Help Center, including tools to better understand funding available for your business
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The Coronavirus Help Center has information you need to help your business navigate during these unprecedented times.

Understand and apply for funding to help your business remain open, continue paying your employees, and recover from unplanned circumstances due to the COVID-19 pandemic with our easy-to-use online tool.

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Additionally, get details about the specific federal relief programs and refundable credits available through the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES), and other helpful resources to help you take care of your business and your people.

We recommend discussing these options with your accountant or trusted advisor to determine the best course of action to leverage the incentives available.

We’ve created a report that is currently available for Paychex Flex® users, clients not on Paychex Flex, and former clients to help make applying for a Paycheck Protection Program (PPP) loan simpler. Find more information about the PPP loan application process in our customer support section.

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IRS Extends ACA Deadline for Employers to Furnish Forms to Employees and on Good-Faith Transition Relief for 2019

Compliance
Article
12/12/2019
  • On Dec. 2, 2019, the IRS issued a notice extending the deadlines for certain entities to furnish forms 1095-C to employees and covered individuals about the health insurance coverage offered to them.
  • The notice also extends good-faith transition relief for the 2019 filing year from penalties for incorrect and incomplete reporting requirements.

The Internal Revenue Service (IRS) issued a notice on Dec. 2, 2019, that extended the deadlines for certain entities to furnish forms 1095-C to employees and covered individuals about the health insurance coverage offered to them. The notice also prolongs good-faith transition relief from penalties for incorrect and incomplete reporting requirements for the 2019 filing year.

In general, applicable large employers (ALEs) are employers that had an average of at least 50 full-time employees, including full-time-equivalents, in the preceding calendar year. Bear in mind that new employers determine their status using their anticipated employee count and look at their current year data as opposed to their look-back data.

ALEs must report the health insurance coverage information they offered on a Form 1095-C for each full-time employee. These forms are all filed with a transmittal Form 1094-C. Additionally, ALEs that sponsor self-insured health plans report health coverage information for each individual enrolled on a Form 1095-C. This includes the employee, employee’s family members, and non-employees. They have the option to report health coverage information for non-employees such as retired employees on a Form 1095-B, which are filed with the transmittal Form 1094-B. Non-ALEs that sponsor self-insured health plans report coverage information on 1095-B, not 1095-C.

Here are the key points for employers:

  • The due date for furnishing 2019 Form 1095-C is extended from Jan. 31, 2020, to March 2, 2020.
  • Good-faith transition relief from penalties under sections 6721 and 6722 for incorrect or incomplete information reporting on the returns is extended to the 2019 tax filing year. 
  • The provision regarding automatic extensions for filing information returns remains available via Form 8809.
  • There are no extensions to employer filing deadlines. Feb. 28 and March 31, 2020, for Forms 1094-C and 1095-C for paper and electronic filers, respectively, remain unchanged.
  • There is no relief for employers for failure to file or furnish in a timely manner.

Keep in mind, employers that do not provide accurate or complete information may be required to respond to IRS notices and correct any errors. Ultimately, it is easier to complete and file returns correctly the first time as researching, correcting and responding to the IRS later can be a much more complex and time-consuming process.

Businesses that need help managing due dates and compliance with other employer shared responsibility provisions of the Affordable Care Act can turn to Paychex.

laurie savage headshot
Laurie Savage is a compliance professional and subject matter expert on the Affordable Care Act (ACA) for Paychex Inc. specializing in Health Care Reform.
This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.