IRS Webcast on Reporting Health Care Coverage under Tax Code Section 6056

NBCH thanks the American Benefits Council for the information provided in this post.
 

The Internal Revenue Service (IRS) will host a webcast on Thursday, August 21 at 12:00 pm ET to describe how applicable employers should report health care coverage under Internal Revenue Code Section 6056, as established by the Patient Protection and Affordable Care Act (PPACA).

Code Section 6056 requires every applicable large employer (generally, an employer that employed on average at least 50 full-time employees or equivalents) to file a return with the IRS that reports the terms and conditions of the health care coverage provided to the employer's full-time employees during the year. Form 1095-C is to be used to satisfy this requirement. Form 1094-C is to be used to transmit these returns.

On March 5, the Internal Revenue Service (IRS) issued final regulations on Section 6056 reporting, followed by the release of draft forms on June 23. Official instructions for completing the forms have not yet been released. These reporting requirements will not be effective until 2015 (first reporting is due in early 2016).

The August 21 IRS webcast will cover:

• Internal Revenue Code Section 6056
• Who is required to report
• What elements are required to be reported
• When Applicable Large Employers must report
• How do government entities designate reporting

Speakers for the webcast will include Tennille Francis, Tax Law Specialist, IRS office of Federal State & Local Governments; Stephen Tackney, Deputy Division Counsel/Deputy Associate Chief Counsel, IRS office of Chief Counsel; and Ligeia Donis, Senior Technician Reviewer, Employment Tax Branch, IRS office of Chief Counsel. Tackney and Donis have both appeared on the Council's P4P ... Preparing for PPACA webcast series on implementation topics.

Interested employers can register for the IRS webcast here.