Some processes used by the Internal Revenue Service to ensure businesses comply with the Affordable Care Act’s employer shared responsibility provision didn’t work as they were supposed to, or they were delayed or canceled, according to a new government report.
The report, from the Treasury Inspector General for Tax Administration, found that as of Oct. 28, 2016, the IRS had processed 439,201 Forms 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and nearly 110 million Forms 1095-C, Employer-Provided Health Insurance Offer and Coverage. However, thanks to system errors, the IRS couldn’t process the paper information returns on a timely and accurate basis. As of the same date, nearly five months after the May 31 filing deadline, the IRS estimated that more than 16,000 paper Forms 1094-C and 1.4 million paper Forms 1095-C had not been processed.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access