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It’s looking more and more likely that the Affordable Care Act – and its compliance requirements – aren’t going to be repealed any time soon. At a press conference at the end of January, House Speaker Paul Ryan said they planned to be “done with legislating, with respect to Obamacare and healthcare, at the end of this year." Then in an interview on Sunday February 5, the president said about the process that “I would like to say by the end of the year, at least the rudiments, but we should have something within the year and the following year."
We are reaffirming our recommendation that all our clients continue compliance efforts with us and maintain the monthly provision of data now in place. Regardless of what happens, it is prudent for employers to remain prepared for future IRS reporting. Stopping data exchange efforts in 2017 may mean incurring an additional expense in time and money in the future.