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ELI D

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  1. ELI D
    Chaz - any update on your client who received the notice, then filed? Did they get out of it? I'm still hopeful we will not receive a notice since we filed them before the IRS caught it, but I know that's probably a long shot.
  2. ELI D
    I have not heard anything from the IRS on this yet. Praying we won't, since we DID file them. Seems like if you filed them incorrectly but wrong, you won't be penalized, but if you file them late but correctly, you "could" be. That's how I've read it, at least. I'm not sure where the IRS is on issuing notices, though. I read back in March that they were finishing up issuing notices for 2018 in June, and then would move onto 2019 in July and finish that this summer. It's been officially 12 months, but I know we aren't out of the woods.
  3. ELI D
    FYI - I FINALLY reached someone with the IRS. I explained the situation. She said the IRS hasn't said how they will handle it, but she expects there to be a waiver due to COVID issues, and that what happened with our client would definitely fall under the COVID waiver, if and when the IRS issues the guidance.
  4. ELI D
    kmhaab - any update on this? Did your client get assessed the penalties and have to pay? What year was this for?
  5. ELI D
    Any other ideas? Or have you heard about them assessing penalties on late filing, if it was filed before the IRS caught it? The individuals had theirs timely.
  6. ELI D
    I'm just trying to find a way out of any penalties that could come up.
  7. ELI D
    ha. Yeah, just trying to look for an out here. What if we took the blame? Looks like there's a way out if the taxpayer turned in the documents thinking they were filed, but then weren't. They made a "good faith effort" to file them timely. Would our company be assessed penalties if we took the blame for not filing them?
  8. ELI D
    Thanks for your reply. This isn't what I wanted to here! When did they file the forms for 2017? All other years have been filed timely. This one literally just got lost in the shuffle. That's a steep penalty, too. Also, do we think there's a chance if Trump gets re-elected that Congress could possibly just get rid of the mandate for employers, or at least stop the penalties?
  9. ELI D
    Our client just filed their 2019 1095-Cs with the IRS. They were overlooked back in the spring (an extension to May 1 was filed) due to COVID/PPP things, and we just realized they hadn't been filed last week. No letter has been received from the IRS. Technically, a penalty of $270 per record could be charged. But do any of you know if the IRS is actually assessing the penalty when the taxpayer files them on their own, without the IRS having to get involved? Please give us some good news! And yes, the forms were distributed to the employees timely.
  10. ELI D
    Our client just filed their 1095-Cs for 2019. No letter was received from the IRS. The filing just got overlooked in all of the COVID/PPP things. Since they were after August 1 filing, it looks like the penalty would be $270 per return. What is the likelihood the IRS will impose this, since it was self-caught and corrected, before the IRS even knew about it? Please give me some good news here!
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