The IRS has released the 2017 Instructions for Forms 1094-C and 1095-C. There are a couple of changes from their respective previous revisions:
Changes to 2017 Instructions for Forms 1094-C and 1095-C
- Now there is no section 4980H transition relief available for 2017
- The instructions have thus removed discussion of section 4980H transition relief, and Form 1094-C was also updated because of this
- Specifically, Form 1094-C, line 22, box C is designated “Reserved”; Part III, column (e) is designated “Reserved”; and the entry rows in Part III, column (e) are shaded
- New Instructions
- Paper returns filed with the IRS must be printed in landscape format
- Forms 1095-C filed with incorrect dollar amounts on line 15, Employee Required Contribution, may fall under a safe harbor for de minimis errors. This safe harbor generally applied if no single amount in error differs from the correct amount by more than $100. If the safe harbor applies, you will not have to correct Form 1095-C to avoid penalties. However, if the recipient elects for the safe harbor not to apply, you may have to issue a corrected Form 1095-C to avoid penalties.
- Premium tax credit percentage increased to 9.69% for TY2017
