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Form 720 Penalties

Form 720 is a United States Internal Revenue Service form that is typically submitted quarterly.  Businesses engaged in the sale of particular types of products must use the form to report the collection of... more +
Form 720 is a United States Internal Revenue Service form that is typically submitted quarterly.  Businesses engaged in the sale of particular types of products must use the form to report the collection of excise taxes. The Affordable Care Act made some revisions to Form 720 which relate to the payment of Patient-Centered Outcomes Research Institute (PCORI) fees. The revisions require sponsors of self-funded insurance plans to submit the form yearly to report and pay PCORI fees.  less -
Foley & Lardner LLP

ACA’s “Pay-Or-Play” Penalty Delayed Until 2015

Foley & Lardner LLP on

Last week, in a move welcomed by many employers, the Obama administration announced that it would delay implementation of certain key provisions of the Affordable Care Act (ACA) until 2015....more

Best Best & Krieger LLP

IRS Guidance Released on the Delayed Implementation of the Affordable Care Act's Play or Pay Rules - Penalties Will Not Apply to...

On the heels of last week’s announcement that the Affordable Care Act’s (ACA) reporting requirements and Play or Pay penalties will not go into effect until 2015, the IRS has released transition relief clarifying that the...more

Cranfill Sumner LLP

What the Obamacare Delay Means Right Now

Cranfill Sumner LLP on

On July 2, 2013, the Department of the Treasury and the White House announced via social media that the employer reporting requirements and employer shared responsibility/play-or-pay penalty are being delayed until 2015. ...more

King & Spalding

July and August Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

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