The GOP may be offering up alternatives to the ACA, but for now the universal health plan is here to.
The New Year brought good news for those employers required to file tax returns reflecting healthcare coverage for the first time. The IRS and the Department of Treasury have extended deadlines for the employer mandate (also known as “pay or play”) for both employee notifications and filing with the IRS.
In response to requests for extensions, the government agencies recognized that the task to gather all of the necessary employee information into one centralized location and use it for reporting placed an immense administrative burden on employers. As such, the updated deadlines are as follows:
So long as applicable employers file by the new deadlines (the IRS recommends filing as soon as returns are ready), no penalties will apply. And for those employers who miss even the new deadlines, it is still recommended to file as soon as possible to ensure good faith attempts are taken into account before penalties are applied.
Want to learn more about ACA Penalities and fees
that may impact your organization? Download the
The Nonstop Guide to ACA Penalties for the 2015 Tax Year
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