Employer Reporting Improvement Act

Summary

Employer Reporting Improvement Act This bill modifies provisions under the Patient Protection and Affordable Care Act that require employers and health insurance providers to prepare tax forms showing proof of minimum essential coverage (1095-B and 1095-C tax forms). Currently, employers and health insurance providers that provide minimum essential coverage must report this information for each covered individual to the Internal Revenue Service (IRS), including the covered individual's Tax Identification Number (TIN). Employers and providers must also send a copy of this information to the covered individual (through 1095-B and 1095-C tax forms) by January 31 of each year. The IRS allows for an individual's date of birth to be substituted for the individual's TIN if the TIN is not available. The IRS also allows employers and providers to offer 1095-B and 1095-C tax forms to individuals electronically. The bill provides statutory authority for these flexibilities. Additionally, under current law, large employers (generally those with 50 or more full-time employees) are subject to an assessment by the IRS if they do not offer affordable minimum essential coverage. The bill requires the IRS to give large employers at least 90 days to respond after sending its first letter about a proposed assessment (Currently, the IRS generally gives 30 days to respond.) It also establishes a six-year statute of limitations for collecting assessments.

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Timeline

1. 2 November 2023

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 2 November 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 November 2023 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 November 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 November 2023

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 2 November 2023

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Young, Todd [R-IN] · R · Sponsor
• Sen. Cortez Masto, Catherine [D-NV] · D · Sponsor
• Sen. Thune, John [R-SD] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Employer Reporting Improvement Act