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March 20, 2014

IRS Releases Final Rules on Information Reporting

Final rules for implementing the Section 6055 and 6056 ACA information reporting provisions for insurers and certain employers were released March 5 by the IRS. The regulations, which apply beginning in 2015, streamline the reporting requirements for employers and provide guidance for reporting by insurers and other parties that provide health coverage under the ACA.

To learn more, see the Treasury Department’s fact sheet on the final rules. Complete final rules can be viewed in the Federal Register for Section 6055 requirements and Section 6056requirements, respectively.