Almost four years after the Affordable Care Act (ACA) was signed into law, the IRS has finally released the reporting requirements employers must comply with to avoid the dreaded ‘play-or-pay’ penalty (a.k.a., the shared responsibility penalty).
If you recall, the IRS issued the proposed play-or-pay reporting rules last September.
On the whole, the final rules are pretty much the same. But the IRS has squeezed in a few new elements it hopes will simplify the reporting process for employers and insurers.
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