Applicable Large Employers (ALEs) must file and furnish their ACA information to the IRS as required by the ACA’s Employer Shared Responsibility. As you prepare your ACA filings for the Tax Year reporting season, be sure to mark your calendar with these key ACA reporting dates to minimize the risk of receiving IRS penalties.
And, if you’re concerned about making the deadlines, contact BenefitScape. We can help!
March 2, 2023: ACA forms furnishing deadline
ALEs must furnish the 1095-C form to each of their full-time employees for the 2022 tax year by no later than March 2, 2023, previously January 31, 2023.
March 31, 2023: ACA electronic filing deadline
The ACA electronic filing deadline for Tax Year 2022 is March 31, 2023.
Steep penalties for non-compliance
Employers that miss the deadlines mentioned above can be subject to IRS penalties. The tax agency is issuing late and non-filing penalties for past tax years.
In addition to late and failure to file penalties, the IRS is also issuing non-compliance penalties via Letter 226J, so employers must submit 100% compliant ACA filings to avoid IRS penalties in the future. The penalty amounts can range into millions of dollars.