Yesterday, November 18, the IRS issued Notice 2016-70, which extends the due date for the 2016 requirement to furnish ACA-related statements to individuals for insurers, self-insuring employers, and certain other providers of minimum essential coverage under I.R.C. § 6055, and for applicable large employers under I.R.C. § 6056, and extends good-faith transition relief from section 6721 and 6722 penalties to the 2016 information-reporting requirements under sections 6055 and 6056. The due date is extended from January 31st, 2017 to March 2nd, 2017. The notice also provides guidance to individuals who, as a result of these extensions, might not receive a…
