ACA: IRS Releases Reporting Requirement Information
Feb 23, 2015
The Internal Revenue Service recently released final forms and instructions for ACA tax reporting requirements. The forms and instructions have been delayed several times.
These forms are voluntary for tax year 2014. The first information returns and employee statements are not required for applicable employers until early 2016 for the 2015 calendar year. Although voluntary, employers may want to review these forms with their tax/benefits advisors in preparation for the full application of the provisions for calendar year 2015. No penalties will be applied for failure to comply with these information reporting provisions for year 2014. (Read More)