IRS ISSUES NEW Q&AS ON SECTION 6056 REPORTING

On May 20, 2015, the IRS released new Questions and Answers (Q&As) on Section 6056 reporting using Form 1094-C and Form 1095-C. These Q&As supplement a separate set of Q&As on Section 6056 reporting that were issued on Aug. 29, 2014, which were updated at the same time the new Q&As were released.

The new and updated Q&As clarify existing requirements under Section 6056, and provide additional guidance on specific aspects of reporting that had not been addressed previously.

For example, the Q&As address specific issues related to:

• Reporting Offers of Coverage and Other Enrollment Information

• Reporting Offers of COBRA Coverage

• The Authoritative Transmittal

• Alternative Methods of Reporting

• Reporting for Governmental Units.

Please contact 360benefits, Inc. for a detailed legislative brief with more information on Section 6056 reporting.