Combined Tax Reform Bill Still Maintains ACA Reporting Requirements


As expected, the combined tax bill that recently passed both the House and Senate does not eliminate the employer mandate to provide health insurance, nor does it change Affordable Care Act reporting requirements for eligible organizations.


President Trump is likely to sign this version of the bill into law. It does eliminate the individual mandate to purchase health insurance, meaning individuals who choose not to buy insurance will no longer be subject to a fine.


However, the bill does not make any changes to the ACA employer mandate. Eligible companies—generally, those with at least 50 full-time employees—will still be required to provide health insurance to employees, and to continue to send ACA forms 1094 and 1095 B and C to recipients as well as file those forms with the IRS.


As Sovos mentioned in a previous blog entry, ACA reporting requirements are still very much in effect and remain unchanged. For Tax Year 2017, for the first time, the IRS is enforcing tight deadlines and levying steep penalties for late and incorrect filings.


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About the Author

Gerry  Nelligan

Gerry Nelligan is a Regulatory Analysis Supervisor at Sovos, leading a team of counsels covering information reporting, including 10-Series IRS reporting, Affordable Care Act (ACA) reporting and Automatic Exchange of Information (AEOI). Gerry received his J.D. from Suffolk University Law School and his B.A. from Providence College. He is a licensed attorney in the state of Massachusetts.

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