Client Center
IRS further delays health insurance coverage information reporting for small employers
A new Notice provides interim guidance significantly relaxing the Patient Protection and Affordable Care Act's (PPACA's) information reporting requirement for employer-sponsored health coverage. Under the new guidance, reporting continues to be voluntary for all employers in 2011, and it will be voluntary for small employers until further guidance is issued, but at least through 2012. The Notice also provides guidance on the nuts and bolts of the information reporting rule for employers who will be subject to it, and those employers that choose to voluntarily comply with it.
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The Patient Protection and Affordable Care Act (2010 Health Care Act as Amended) has now been signed into law as of March 23, 2010. Many of the Act's provisions will not take effect until 2011 or later, but certain aspects will be effective this year. Business and individuals alike need to become familiar with this legislation.
We have provided several letters summarizing the information currently available. Please don't hesitate to read each and contact one of our accountants to assist you with compliance. We will make you aware of updates as they become available. - BHT&D
2010 Sm Business Jobs Act.pdf
Tax Changes Affecting Individuals.pdf
Assistance for Purchasing Health Insurance.pdf
Penalties on Individuals Remaining Uninsured.pdf
Higher Medicare Taxes - High-income Taxpayers.pdf
Tax Changes Affecting Small Businesses.pdf
Employer Requirements - Offer of Coverage.pdf
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