{"id":4437,"date":"2023-01-16T08:16:29","date_gmt":"2023-01-16T14:16:29","guid":{"rendered":"https:\/\/www.employco.com\/blog\/?p=4437"},"modified":"2023-01-16T10:35:39","modified_gmt":"2023-01-16T16:35:39","slug":"hr-newsletter-irs-finalizes-deadline-extension-for-aca-statements","status":"publish","type":"post","link":"https:\/\/www.employco.com\/blog\/2023\/01\/16\/hr-newsletter-irs-finalizes-deadline-extension-for-aca-statements\/","title":{"rendered":"HR Newsletter: IRS Finalizes Deadline Extension for ACA Statements"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg\" alt=\"HR Newsletter: IRS Finalizes Deadline Extension for ACA Statements\" width=\"1200\" height=\"545\" \/><\/p>\n<p>On Dec. 12, 2022, the IRS released a <a href=\"https:\/\/www.federalregister.gov\/public-inspection\/2022-27212\/information-reporting-health-insurance-coverage-and-other-issues\" target=\"_blank\" rel=\"noopener\">final rule<\/a> that extends the annual furnishing deadlines for Sections 6055 and 6056 reporting under the Affordable Care Act (ACA). This rule finalizes guidance that was proposed by the IRS in December 2021 with minor clarifications. Specifically, the rule:<\/p>\n<ul>\n<li>Finalizes the 30-day automatic extension to the due date for furnishing statements to individuals under Sections 6055 and 6056.<\/li>\n<li>Confirms the availability of an alternate method for furnishing statements to individuals under Section 6055 for every year in which the individual mandate penalty is zero.<\/li>\n<\/ul>\n<p><!--more--><\/p>\n<p>The due date for filing forms with the IRS under Sections 6055 and 6056 remains unchanged. This means that forms must generally be filed with the IRS each year by Feb. 28 (or March 31, if filing electronically). Due to the 30-day automatic extension, employers have until March 2 (or March 1 in a leap year) to furnish ACA statements. The deadline for furnishing statements for the 2022 calendar year is March 2, 2023.<\/p>\n<p>Also, because the individual mandate penalty is zero, employers with self-insured plans that are subject to reporting under Section 6055 may use the alternate method of furnishing statements to individuals. With this method, an employer must post a clear and conspicuous notice on its website stating that responsible individuals may receive a copy of their statement upon request. Employers must furnish statements within 30 days of when they are requested. For 2022 statements, this website notice must be posted by March 2, 2023, and must generally remain posted through Oct. 17, 2023.<\/p>\n<p>Consistent with prior years, Employco will once again provide the ACA statement service for our applicable large clients at no additional cost. <a href=\"mailto:jeisenhut@employco.com\">Contact us<\/a> with any questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Dec. 12, 2022, the IRS released a final rule that extends the annual furnishing deadlines for Sections 6055 and 6056 reporting under the Affordable Care Act (ACA). This rule finalizes guidance that was proposed by the IRS in December&hellip;  <\/p>\n<p class=\"more-link\"><a href=\"https:\/\/www.employco.com\/blog\/2023\/01\/16\/hr-newsletter-irs-finalizes-deadline-extension-for-aca-statements\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-4437","post","type-post","status-publish","format-standard","hentry","category-hr-newsletter"],"featured_image_src":null,"author_info":{"display_name":"Employco USA","author_link":"https:\/\/www.employco.com\/blog\/author\/employcousa\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>HR Newsletter: IRS Finalizes Deadline Extension for ACA Statements - Employco Blog<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.employco.com\/blog\/2023\/01\/16\/hr-newsletter-irs-finalizes-deadline-extension-for-aca-statements\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"HR Newsletter: IRS Finalizes Deadline Extension for ACA Statements - Employco Blog\" \/>\r\n<meta property=\"og:description\" content=\"On Dec. 12, 2022, the IRS released a final rule that extends the annual furnishing deadlines for Sections 6055 and 6056 reporting under the Affordable Care Act (ACA). 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Specifically, reporting entities must: File returns with the IRS by March 1, 2021, since Feb. 28, 2021, is a Sunday (or March 31, if filing electronically); and Furnish statements\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"ACA Reporting","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/February2021_ACA.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/February2021_ACA.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/February2021_ACA.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/February2021_ACA.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/February2021_ACA.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":5129,"url":"https:\/\/www.employco.com\/blog\/2023\/11\/14\/hr-newsletter-irs-announces-2024-retirement-plan-limits\/","url_meta":{"origin":4437,"position":1},"title":"HR Newsletter:\u00a0IRS Announces 2024 Retirement Plan Limits","author":"Employco USA","date":"November 14, 2023","format":false,"excerpt":"The Internal Revenue Service (IRS) has released Notice 2023-75, containing cost-of-living adjustments for 2023 that affect the amounts employees can contribute to 401(k) plans and individual retirement accounts (IRAs). Description20242023Regular Contribution Limit$23,000$22,500Catch-up Contribution Limit$7,500$7,500Employee + Company Limit$69,000$66,000 Click the following link to read our Legal Update article on this topic:\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4932,"url":"https:\/\/www.employco.com\/blog\/2023\/09\/19\/hr-newsletter-acas-affordability-percentage-decreases-for-2024\/","url_meta":{"origin":4437,"position":2},"title":"HR Newsletter: ACA\u2019s Affordability Percentage Decreases for 2024","author":"Employco USA","date":"September 19, 2023","format":false,"excerpt":"On Aug. 23, 2023, the IRS released the affordability percentage threshold for 2024 plan years under the Affordable Care Act\u2019s (ACA) pay-or-play rules. For plan years beginning in 2024, employer-sponsored coverage will be considered affordable under the ACA\u2019s pay-or-play rules if the employee\u2019s required contribution for self-only (employee-only) coverage does\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5243,"url":"https:\/\/www.employco.com\/blog\/2024\/01\/17\/hr-newsletter-irs-guidance-on-secure-2-0\/","url_meta":{"origin":4437,"position":3},"title":"HR Newsletter: IRS Guidance on Secure 2.0","author":"Employco USA","date":"January 17, 2024","format":false,"excerpt":"On Dec. 20, 2023, the IRS issued Notice 2024-2, providing guidance in the form of questions and answers with respect to various provisions of the legislation known as the \u201cSECURE 2.0\u201d Act. Background - The Consolidated Appropriations Act of 2023 was signed on Dec. 29, 2022, which is an omnibus\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4444,"url":"https:\/\/www.employco.com\/blog\/2023\/01\/16\/hr-newsletter-irs-announces-2023-standard-mileage-rates\/","url_meta":{"origin":4437,"position":4},"title":"HR Newsletter: IRS Announces 2023 Standard Mileage Rates","author":"Employco USA","date":"January 16, 2023","format":false,"excerpt":"On Dec. 29, 2022, the IRS announced the 2023 optional standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. The 2023 standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"HR Newsletter: IRS Announces 2023 Standard Mileage Rates","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_MileageRates.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_MileageRates.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_MileageRates.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_MileageRates.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_MileageRates.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":3685,"url":"https:\/\/www.employco.com\/blog\/2021\/11\/15\/hr-newsletter-new-401k-limits-for-2022\/","url_meta":{"origin":4437,"position":5},"title":"HR Newsletter: New 401(k) Limits for 2022","author":"Employco USA","date":"November 15, 2021","format":false,"excerpt":"On Nov. 4, 2021, the Internal Revenue Service (IRS) announced new caps for employee and company 401(k) contributions in 2022: 2021 2022 Maximum employee elective deferral (age 49 and younger) $19,500 $20,500 Employee catch-up contribution (age 50 or older) $6,500 $6,500 Maximum employee elective deferral plus catch-up $26,000 $27,000 The\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"IRS","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts\/4437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/comments?post=4437"}],"version-history":[{"count":2,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts\/4437\/revisions"}],"predecessor-version":[{"id":4450,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts\/4437\/revisions\/4450"}],"wp:attachment":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/media?parent=4437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/categories?post=4437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/tags?post=4437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}