EXTENSION GIVEN TO OBTAIN HEALTH CARE INFO

EXTENSION GIVEN TO OBTAIN HEALTH CARE INFO

Extension given to obtain health care info. For those of you thinking of filing your tax returns, regulations were published giving an extension of time for the providers of health care, including health insurance companies, the self employed companies and even government agencies. This was to allow more time to give those needing those statements to obtain them. The statutory deadline is usually on January 31st of the New Year, but an additional 30 days is being given to provide the information in those statements to employees and other covered individuals. This has been the case since the passage of the Patient Protection and Affordable Care Act, P.L. 111-148. That law allowed for the extension, as it became a problem obtaining those statements on time and additional time was required. Extension given to obtain health care info.

Since the extension happens every year, due to the passage of the Patient Protection and Affordable Care Act, those regulations eliminate the requirement of Regulation in Sec. 1.6055-1(g)(4)(i)(B)(1) that a reporting entity make a written application to the IRS showing good cause to request the extension to begin with. "Applicable large employers also give an automatic extension if the employer has 50 or more full time employees, enabling them to furnish statements relating to health insurance that they offer to their employees. Those regulations also provide a different method for a reporting entity to timely furnish Forms 1095-B to those individuals for years when the individual shared responsibility payment amount is zero. With this alternate method of reporting, the employer or entity must post a clear notice on its website stating the responsible individuals can receive the form 1095-B upon request.

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If you have Unfiled Tax Returns, or a tax debt, and need more time to file, use the above information if applicable for your benefit. If you are in need of the IRS Fresh Start Program, call for answers from our 37 year old Tax Resolution Services firm.