Obamacare Tax Reporting Requirements
On July 2, 2013, a senior Treasury Department official in a blog post (to read the original post, click here) announced that the Obamacare tax reporting requirements for 2014 would be waived and, consequently, that the requirement that employers provide health coverage for their full time employees or pay a tax penalty (commonly called the "play or pay" requirements) would be waived for 2014 since enforcing these play or pay requirements would be "impractical" in light of the waiver of the reporting requirements. The blog post stated that a formal announcement would be forthcoming shortly. Finally, the blog post suggests that there will be no wavier of any of the other requirements of Obamacare. The Taylor English EBEC team will update this alert as more definitive information is made available. Please contact Jan G. Marsh (678.336.7135) if you would like to discuss this development further.
- Employee Benefits and Executive Compensation