October 2020
Executive Briefing
1095-B/C – Extended Due Dates
The Internal Revenue Service (IRS) has extended the filing due dates for several 2020 information returns related to health care reform. This applies to the following 2020 forms:
- 1095-B – Health Coverage
- 1095-C – Employer-Provided Health Insurance Offer and Coverage
CFPB – Credit Card Market
The Consumer Financial Protection Bureau (CFPB) is requesting public comments on various aspects of the consumer credit card market. This is pursuant to the biennial review required by Section 502 of the Credit CARD Act of 2009.
2020 1042-S File Layout Changes
The Internal Revenue Service has issued its 2020 instructions for filing Form 1042-S electronically (a/k/a Publication 1187). This article examines the significant changes since 2019.
Short Compliance Topics
• Form 1095-B – Filing Relief
• IRS – Pub. 1220 Correction
• FinCEN – AML Rules For Banks With No Federal Functional Regulator
Emerging Issues
• Continuing Appropriations Act 2021 & Other Extensions Act
• FAIR Act
• National Defense Authorization Act For Fiscal Year 2021
• Online Accessibility Act
• Protecting Your Credit Score Act
• Required Minimum Distribution Modernization Act
• Securing A Strong Retirement Act
