Whatever your thoughts are about the Affordable Care Act, you can’t deny its tremendous impact on the health care industry and Americans in general. Since its implementation in 2010, 16.9 million people have gained coverage. Despite the 191 amendments presented this year to change the law, the employer mandate is still in place, and it’s important to ensure that HR teams are prepared for the 2017 tax year filing.
Meet the Deadline
Be ready to meet the January 31, 2018 deadline. For the 2016 tax forms due in early 2017, employers received an extra two months to distribute necessary forms to employees and three months to file with the IRS, but 2018 will not have the same extensions. Forms need to be postmarked to employees by January 31, 2018 and transmitted to the IRS no later than April 2, 2018.
