Forms and Instructions

The IRS has released the 2018 Forms 1094-C, 1095-C and form instructions. There are no significant changes to the forms or instructions, however there are a few minor formatting changes on Form 1095-C. The column (a) data field for lines 17-22 in Part III on Form 1095-C, is now sub-divided into three sections for the covered individual name (first name, middle initial, last name.)

 

 

The forms and instructions are available for viewing at the links below:

 

2018 Form 1094-C: https://www.irs.gov/pub/irs-pdf/f1094c.pdf

 

2018 Form 1095-C: https://www.irs.gov/pub/irs-pdf/f1095c.pdf

 

2018 Instructions for Forms 1094-C and 1095-C: https://www.irs.gov/pub/irs-prior/i109495c–2018.pdf

 

 

Furnishing and Filing Deadlines

Employers who are subject to the ACA employer mandate must provide a completed 2018 Form 1095-C to full-time employees no later than January 31, 2019.

 

 

Employers who file information returns electronically to the IRS must file the 2018 Forms 1094 and 1095 by April 1, 2019. If filing paper forms the deadline for the 2018 forms is February 28, 2019.

 

 

Reporting Penalties

Failures to file correct information returns to the IRS or furnish correct statements to employees can result in significant penalties. The following penalties apply to 2018 tax year returns:

 

• Failure to file a correct information return is $270 for each return failure, the total penalty for the calendar year not to exceed $3,275,500.

• Failure to furnish a correct payee statement is $270 for each failure, the total penalty for the calendar year not to exceed $3,275,500.

• Special rules apply to “intentional disregard” of the filing and furnishing requirements, which could increase the per statement and penalty totals.

• Waivers from penalties may be available if due to a reasonable cause.

 

 

 

Thank you for choosing Paylocity as your Payroll Tax partner. Should you have any questions please contact your Paylocity Account Manager.

 

This information is provided as a courtesy, may change and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney or Advisor.