Coronavirus Healthcare, Federal Tax

Transition Relief for 2020 Health Coverage Reporting

The IRS has issued transition relief for 2020 related to health coverage reporting required by the Affordable Care Act. In Notice 2020-76, the IRS extended due dates for certain 2020 information reporting requirements for insurers, self-insuring employers, certain other providers of minimum essential coverage and applicable large employers. It also announced that it won’t impose a penalty against reporting entities for failing to furnish a 2020 Form 1095-B, “Health Coverage” to responsible individuals if certain conditions are met. Finally, it extended transitional good-faith relief from penalties to the 2020 information reporting requirements. Click here for more information. For questions, contact the Cg Team. © 2020