Affordable Care Act
The Treasury Department announced on July 2nd
that the Obama Administration is providing employers with transition relief from the Affordable Care Act's employer shared responsibility excise tax (IRC Section 4980H), which now will not be imposed until 2015. The Administration further announced that employers and health insurance issuers will have an additional year before beginning mandatory reporting of health care coverage to the IRS (IRC Section 6055) and reporting (by certain employers) of information on full-time employees and their health care plan provisions (IRS Section 6056).
We anticipate more detailed guidance will be offered shortly that will answer some of the questions this announcement raises. Spherion will continue to post relevant information in a timely manner, but please keep in mind some of the ACA materials on this page may be applicable to 2015 versus 2014.
To learn more, please watch our recent ACA webinar