The IRS wants to hear your thoughts on one of the most controversial provisions in the healthcare reform law: the shared responsibility mandate. But you don’t have much time to respond.
Employers have until June 17, 2011, to submit public comment to the IRS.
Commonly referred to as “Play or Pay,” the shared responsibility provision would require firms with at least 50 full-time equivalent (FTE) employees to pay a penalty if they fail to offer FTE workers healthcare coverage – or if they offer coverage that’s unaffordable or doesn’t provide minimum value, starting in in 2014.
The feds are looking for comments on specific definitions of employer, employee and hours of services, proposed methods for calculating work hours for hourly and non-hourly workers, as well as other issues.
For detailed info on how to submit comments, click.