James R Davidson, CPA

84 Summer Street  Kingston, MA 02364
(781) 582-1318

Newsletter

Changes in Filing Deadlines

The IRS has extended the 2017 due date for employers and coverage providers to furnish some  information statements to individuals – but the due date for filing with the IRS has not been extended.

IRS Notice 2016-70 explained the upcoming 2017 reporting due dates:

Applicable large employers, including those that are self-insured, must send Forms 1095-C to full-time employees by March 2; and must file Forms 1095-C and 1094-C with the IRS by Feb. 28 for paper and March 31 for e-filing. (Applicable large employers that provide employer-sponsored self-insured health coverage to non-employees may use either 1095-B or 1095-C to report coverage for those individuals and other family members.)

Self-insured employers that are not applicable large employers must send Forms 1095-B to responsible individuals by March 2, and must file Forms 1094-B and 1095-B with the IRS by Feb. 28 for paper and March 31 for e-filing.

Coverage providers, other than self-insured applicable large employers, must sent Forms 1095-B to responsible individuals by March 2, and must file Forms 1094-B and 1095-B with the IRS by Feb. 28 for paper and March 31 for e-filing.

These dates apply only for reporting in 2017 for coverage in 2016.

Those who file 250 or more 1095-Bs or 1095-Cs must e-file them with the IRS. For more information, visit the Affordable Care Act Information Reporting Program page (https://www.irs.gov/for-tax-pros/software-developers/information-returns/affordable-care-act-information-return-air-program), or read Publications 5164 and 5165.)

The deadlines for filing the Form W-2 with the Social Security Administration and the Form 1099-MISC with the Internal Revenue Service are changing next year.

Starting in 2017, for the 2016 reporting year, both the W-2 and 1099-MISC recipient copies need to be submitted by January 31, whether by paper or electronic filing. That is months earlier than previous year and promises to increase both workloads and stress levels for companies and their accountants alike.

Making matters even more complicated, the new filing deadline, as it relates to Form 1099-MISC, only affects filers that report non-employee compensation payments in box 7. The overwhelming majority of 1099-MISC filers will report information in box 7, so there’s sure to be plenty of confusion.


The April 15 deadline, as well as the extended deadline of October 15, for individuals will remain unchanged, but one new deadline of which taxpayers should be aware: Form 1065, U.S. Return of Partnership Income, is now due March 15 rather than April 15.

What does that mean for businesses and tax professionals? The new deadlines (in theory) make more sense. The changes coming next year are, in part, the result of years of lobbying by the American Institute of CPAs, as well as others. For individual taxpayers with ownership interests in partnerships, having the same due date for individual and partnership tax returns made it difficult, if not impossible, to file individual returns by the April 15 due date.

Also included in the legislation was a change to the due date of C Corporations, from March 15 to April 15 for calendar-year corporations. It is important to note the due date for calendar year S Corporations remains March 15.

Website Builder