ACA Reporting Update: New Forms, Higher Penalties
ACA Reporting Update: New Forms, Higher Penalties
Damian A. Myers
With the impending deadline early next year for submitting Affordable Care Act reports, most applicable large employers are (or should be) in the process of gearing up submitting those reports, says attorney Damien Myers.
Complying with the law’s information reporting requirements is “perhaps the biggest ACA compliance challenge this year,” says Myers, who is with the law firm Proskauer Rose. The IRS has introduced new reporting forms, increased penalties for failing to file the forms with the government or providing them to employees, he writes.
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