Are you ready for new health-care reporting requirements?

Are you ready for new health-care reporting requirements? https://wahospitality.org/wp-content/uploads/2013/08/healthcarereformts1-940x198.jpg

The Treasury Department and Internal Revenue Service have released draft forms that give businesses some idea about the voluminous data they’ll need to start tracking in 2015 under the Affordable Care Act, for reporting to the IRS and employees starting in early 2016.

But the agencies haven’t yet released instructions for the forms, and are still collecting comments from the public about the draft forms.

Instructions should be available shortly, the IRS said in late July.

The new forms — 1094-A, 1094-B, 1095-A and 1095-B  — cover two new reporting requirements under the ACA: Section 6056 reporting (for “applicable large employers” under the law, defined as those with 50 or more full-time-equivalent employees in 2015) and Section 6055 reporting (for self-insured employers and others).

Download the IRS draft forms here: http://1.usa.gov/1rYqf8l

(Source: National Restaurant Association)

Tags: health care