IRS Issues Draft Instructions for 2015 Information Reporting Under the Affordable Care Act

The Internal Revenue Service on Aug. 7 issued draft Affordable Care Act-related Forms 1095-C and 1094-C, instructions and Forms 1095-B and 1094-B, and instructions for the reporting requirements under tax code Sections 6055 and 6056 for 2015.

While reporting for large employers was voluntary in 2014, the new instructions provide additional guidance and important changes to the reporting requirements to which large employers are subject for 2015. Changes to previous versions of the reporting instructions include a relaxation of employer reporting requirements with respect to certain multiemployer plans, an important clarification of the 98 percent alternative reporting method, confirmation of ...