IRS Updates Q&As on Shared Responsibility Requirements

The Internal Revenue Service (IRS) has recently updated its "Questions and Answers on Employer Shared Responsibility Provisions Under the Affordable Care Act" page. The IRS states:

"On Feb. 10, 2014, the IRS and Treasury issued final regulations on the Employer Shared Responsibility provisions under section 4980H of the Internal Revenue Code. The following questions and answers provide helpful information about the guidance:

Basics of the Employer Shared Responsibility Provisions: Questions 1-3
Which Employers are Subject to the Employer Shared Responsibility Provisions:Questions 4-14
Identification of Full-Time Employees: Questions 15-17
Liability for the Employer Shared Responsibility Payment: Questions 18-23
Calculation of the Employer Shared Responsibility Payment:Questions 24-26
Making an Employer Shared Responsibility Payment: Questions 27-28
Transition Relief: Questions 29-39
Basics for Small Employers: Questions 40 - 42
Additional Information: Questions 43-46"

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