The IRS has released the final forms and instructions for employers to use for IRS Code 6055 and 6056. These are helpful as you take steps to comply with the Affordable Care Act (ACA) and continue to navigate Health Care Reform. This is for 2014 reporting, which is voluntary. Mandatory reporting will not begin until 2016, however your data from 2015 will be used for 2016 reporting.
Current Forms and Instructions:
In addition, the IRS has published an overview that further explains your responsibilities. (Read the overview)
For additional information on this topic, refer to Jamie Moran's article "Streamline Your Data Production for IRS 6055 and 6056". This is posted on the Insights page of Provider Group's website.
We look forward to discussing this with you! Contact Jamie Moran, HIA, MHP, a Principal and the Director of Employee Benefits at Provider Group. He designs and implements cost effective, long-term benefits strategies while balancing the employee’s demand for quality plans. Jamie works with businesses and non-profit organizations throughout Southern New England to develop a variety of traditional and non-traditional ways to approach employee benefits. He can be reached at 401-671-6359 or email@example.com.