We hope you had a great holiday weekend and are looking forward to jumping right into your 2015 tax filings this Monday morning! Oh, who are we kidding? Any one of us would hit a snooze button to delay thinking about filing for at least another week in a heartbeat if we could.
Although, that’s not to say that you can’t: in the spirit of the holidays, we’ll let it slide if you want to put off looking at your filings until next year/week. But before you go popping the champagne early, keep in mind that you’ve got some deadlines coming up. So take a look at the dates below, think about the amount of forms you’ll need to file, and determine if it’s time to own up to the responsibility or if it’s time for a glass of bubbly:
March 31, 2016
March 31st is the date by which copies of the ACA forms you’re filing will need to be sent out to your recipients. Normally, this due date is scheduled for January 31st of the year following the year for which you’re reporting but the IRS has extended this deadline for the 2015 tax year.
May 31, 2016
If you’re paper filing your ACA forms, you’ll need to have them sent to the IRS by May 31st. The official wording of the rule is “the last day of February following the year for which you’re filing,” so in future years, this due date will be February 28th or 29th.
June 30, 2016
And for the e-filers: your ACA forms 1095 and 1094 will need to be transmitted to the IRS by 11:59 p.m. (your time zone) on June 30th. But even though you can literally wait until the last minute to e-file, we recommend giving yourself a few days (or hours at least) to file before the deadline so you can avoid any issues with heavy site traffic or computer errors. And remember: after 2016, this due date will be March 31st of each year.
So be sure to keep these dates in mind as the new year approaches. If you miss one you're required to meet, you could face some serious penalties. You know better than we do how long it’ll take you to complete those Form 1099s, Form W-2s, or ACA forms (although you might want to knock some of your estimated time off - our name is ExpressIRSForms, after all), so we won’t tell you that you have to start now. But it couldn’t hurt, either.
And if you need any help along the way, give us a call at (704) 839-2270, Monday through Friday from 9 a.m. to 6 p.m. EST, or send us an email anytime at firstname.lastname@example.org!