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IRS Issues Final Employer Shared Responsibility Regulations with New Transition Relief
 

IRS Issues Final Employer Shared Responsibility Regulations with New Transition Relief

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The Obama administration has postponed for another year, until 2016, the Patient Protection and Affordable Care Act's (PPACA's) (P.L. 111-148) mandatory employer and insurer reporting requirements for ...

The Obama administration has postponed for another year, until 2016, the Patient Protection and Affordable Care Act's (PPACA's) (P.L. 111-148) mandatory employer and insurer reporting requirements for some businesses. The second delay of the employer mandate applies to businesses with between 50 and 99 employees.

Under the new rules, the imposition of any employer-shared responsibility penalty payments under Code Sec. 4980H is waived for 2015, allowing employers with between 50 to 99 workers to not provide health insurance to their employees or face a penalty until 2016. Employers would not be allowed to cut their workforces in order to fall within the transition relief.

The White House still finds itself under fire from many employers who complain that the reporting rules are too complex to properly comply in time. The mandate was initially set to take effect in January 2014, but the White House announced its first delay in July 2013, giving large employers until January of 2015 to comply.

Learn more at: http://www.cbiz.com/page.asp?pid=11159

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