IRS Releases Draft Copies of Health Coverage Reporting Forms

On July 24, 2014, the IRS released draft copies of the forms intended for reporting of health coverage offered by employers to employees under the Affordable Care Act, along with instructions for each draft.  Below are links to each draft:

In 2014, reporting is voluntary, but in 2015 all employers with at least 50 full-time equivalent employees will be required to use the finalized forms to report if the coverage they offer their employees meets minimum value and affordability standards.  ACA reporting will follow the same filing deadlines as W2 reporting.

These draft versions are to help employers and software designers prepare for the new reporting provisions.  Final versions are to be released later this year, so check our blog often for updates!

For more information and up to date reporting standards, check out a free demo of our Human Resources Software today.

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IT Specialist Ryan Lear, DET Distributing

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