Know the ACA Reporting Rules: What Do You Need to Report to the IRS?

The IRS has just released draft copies of the forms employers will need to meet their reporting requirements under the Affordable Care Act.

The Affordable Care Act adds two new sections of the Internal Revenue Code that require many employers, beginning in 2015, to file additional forms to provide information needed to confirm compliance with the ACA’s “individual mandate” (Section 6055) and “employer mandate” (Section 6056) provisions.

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Stay Safe When Calculating Affordability under New IRS Rules

The IRS just released a new percentage to calculate whether an employer-sponsored health plan is affordable for individuals who purchase coverage from an Exchange. But employers will need to rely on the old number to avoid penalties.