After previously releasing draft versions of the forms in July, the Internal Revenue Service (IRS) released the final versions of the 2016 ACA reporting forms in early October – less than four months out from the first of the two reporting deadlines. Fortunately, the final forms do not differ significantly from the forms used for 2015 reporting. There are, however, some key differences for employers to keep in mind.
Soon we will be ushering in the New Year, which marks the first for the roll-out of the Employer Shared Responsibility provisions under the Affordable Care Act (ACA). Though numerous guidelines were put forth to inform employers of how to satisfy the requirements under this employer mandate, 2014 also provided an opportunity to understand ways in which employers will fail (or at the very least, struggle) to meet these same obligations.