One would have to be in a deep sleep to avoid the barrage of “news” regarding Congressional action to repeal the Affordable Care Act (ACA). But, all of the drama does not mean that anything has changed… yet.
Health insurance brokers have been fielding calls from clients asking if they still have to file forms 1094-C and 1095-C which are due to the IRS by March 31, 2017.
The answer is, yes!
Other brokers and accountants are being asked if individuals should complete their tax returns due in April including the information regarding health coverage.
Once again, the answer is, yes!
Complying with the provisions of the Affordable Care Act will be required until legislation has passed both houses of Congress and been signed into law. Even after President Trump takes action, it’s likely that some provisions of the new law will be phased in. As a result, compliance with provisions of the Affordable Care Act (ACA) may be part of the compliance landscape for some time to come.