Take active measures to avoid paying penalties for Tax Year 2018 by planning ahead, keeping track of your deadlines, and double-checking your information. If you fail to timely file your information returns or file them incorrectly, you could be liable for additional fines or fees.
The IRS has just released Notice 2018-94, which will extend the due date for some Tax Year 2018 information-reporting requirements for ALEs, insurers, self-insured employers, and certain other providers of minimum essential coverage.
As of this notice, the due date to furnish employee copies of Forms 1095-B and 1095-C has been extended from January 31, 2019 to March 4, 2019.
Good-faith transition relief from Section 6721 and 6722 penalties for Tax Year 2018 reporting is also extended.
IMPORTANT: Please note that this does not extend the IRS filing due date of April 1, 2019.
BoomTax is excited to announce the release of our Tax Year 2018 product. We’ve been hard at work to develop new features that will provide you with the same simplicity you love for even more tax forms. Continue reading New Features for Tax Year 2018 – Now with W-2 Reporting