IRS announced a small extension of due dates for information reporting of minimum essential coverage under §6055 and reporting for applicable large employers under §6056 in IRS Notice 2016-4.

For furnishing to individuals the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, and the Form 1095-B, the deadline was changed from February 1, 2016 to March 31, 2016.

For filing with IRS (not electronically) the Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage, and the Form 1094-B, Transmittal of Health Coverage Information Returns, the deadline was changed from February 29, 2016 to May 31, 2016.

For filing with IRS electronically the Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage, and the Form 1094-B, Transmittal of Health Coverage Information Returns, the deadline was changed from March 31, 2016 to June 30, 2016.

According to IRS Notice 2016-4, these extensions apply automatically to all filers.   However, the IRS is prepared to accept filings beginning in January 2016 and the IRS encourages employers and other coverage providers to furnish statements and file information returns as soon as they are ready.

Employers and other coverage providers that do not meet the extended due dates are still encouraged to furnish and file, and the IRS will take such furnishing and filing into consideration when determining whether to abate penalties for reasonable cause.   The IRS will also take into account whether an employer or other coverage provider made reasonable efforts to prepare for reporting the required information to the IRS and furnishing it to employees and covered individuals, such as gathering and transmitting the necessary data to an agent to prepare for submission to the IRS.

This article was provided by Kelly & Associates Insurance Group, an endorsed service provider of MADA.  

NADA recently revised its "Q&A for Franchised Dealers on Safety Recalls." The most important change involves suggestions for the disclosure of open recall information to service customers (page 2). In part, these suggestions reflect a new provision set out in the Fixing America's Surface Transportation (FAST) Act signed into law December 4, 2015. Please review these suggestions with your service sales staff.  Questions can be directed to NADA at regulatoryaffairs@nada.org.

The results from the 2015 NADA Workforce Study are now available.  Dealers who participated in the study will receive a complimentary report.  Non-participants can purchase a copy of the report from NADA for $150.00.  

The study analyzed compensation, retention and turnover, employee benefits, work schedules and hours of operation in car and truck dealerships.  Its purpose: to arm dealers with the data needed to recruit, hire and retain top talent.   

The Industry Report presents national and regional statistics culled from more than 240,000 payroll records.  Key insights from the study show that dealerships offer above-average wages and earnings growth along with turnover rates for most dealership positions that fall below the national average for private-sector business.  

Anyone wishing to purchase a copy of the report should call NADA Customer Service at 1.800.557.6232 or purchase it from the NADA U Store accessible from your NADA University account.