On Nov. 18, 2016, the Internal Revenue Service (IRS) issued Notice 2016-70 to:
- Extend the due date for furnishing individual forms under Sections 6055 and 6056 for 2016 for 30 days, from Jan. 31, 2017, to March 2, 2017; and
- Extend good-faith transition relief from penalties related to 2016 information reporting under Sections 6055 and 6056.
- Filers are not required to submit a request or other documentation to the IRS to take advantage of the extended furnishing due date provided by Notice 2016-70.
Notice 2016-70 does not extend the due date for filing forms with the IRS for 2016. The due date for filing with the IRS under Sections 6055 and 6056 remains Feb. 28, 2017 (March 31, 2017, if filing electronically). READ MORE.
