From The Annals Of “You’ll Find Out What’s In It Once You Vote For It”
Everything is proceeding exactly as I have foreseen
New information-reporting rules for many businesses and their insurers are on their way under the federal Affordable Care Act. But with less than 10 months to go before data tracking is to get under way, the impact on affected businesses could be overwhelming, the National Restaurant Association reported last week.
Last week the IRS issued rules requiring many employers to turn over significant data to the IRS and to employees starting in early 2016. Data tracking must begin Jan. 1, 2015.
The rules are aimed at helping the IRS enforce the health care law’s employer and individual mandates, including allowing the agency to calculate and assess monthly penalties against large employers who fail to offer qualifying health care coverage to full-time employees. Federal and state agencies will also use the data to determine which individuals are eligible for federal tax help to buy health care plans on exchanges.
…Dawn Sweeney, NRA president and chief executive officer, said that the NRA is disappointed in the overall regulations. “We asked the IRS to offer options for a truly streamlined reporting process, taking into consideration the employer reporting requirements holistically. Instead, employers will face an overwhelming and extensive set of requirements. The data-collection process will be massive, likely requiring new administrative resources and technology upgrades. Our industry has never needed to track such a massive outflow of employee data. The prospect of putting systems in place by the end of the year to collect, maintain and protect new data continues to be a great concern for restaurateurs,” said Ms. Sweeney.
Yes, more liars for Harry Reid to dismiss.
Nanny State, Politics | Mr. Bingley | 
March 11, 2014 6:14 am
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Too many are going to see ‘NRA’, assume it’s the National Rifle Association, and dismiss the concerns as right-wing-gun-nut hysteria.