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Affordable Care Act Information Reporting Requirements Delayed Until 2015

The U.S. Treasury Department (?Ç£Treasury?Ç¥) announced on July 2, 2013, that the mandatory employer and insurer reporting requirements under Sections 6055 and 6066 of the Internal Revenue Code (?Ç£Information Reporting?Ç¥), as enacted by the Patient Protection and Affordable Care Act (?Ç£PPACA?Ç¥), will be postponed by one year (?Ç£Transition Relief?Ç¥).?á Absent the Transition Relief, Information Reporting would have applied to health coverage provided by employers during 2014.?á The Transition Relief may be viewed as a welcome development by employers who need additional time to implement appropriate procedures for administering Information Reporting and other PPACA requirements.

The lawyers of our Employee Benefits and Executive Compensation Practice Group are readily able to assist companies on a nationwide basis with implementing sophisticated benefit plans and providing answers to their most challenging compensation issues. Additionally, our lawyers are well aware of the daily employee benefits challenges facing companies of all sizes and are capable of helping in-house lawyers and human resources personnel with the day-to-day advice and guidance necessary to properly administer employee benefits plans.

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