Employee Benefits Compliance, Individual Mandate

IRS Final Regulations on Shared Responsibility Payment (Tax) by Individuals who do not have Minimum Essential Coverage in 2014

mlr provisions

On August 26, 2013, the IRS published final regulations “on the requirement to maintain minimum essential coverage enacted by the [ACA]. These final regulations provide guidance to individual taxpayers on the liability under section 5000A of the Internal Revenue Code for the shared responsibility payment for not maintaining minimum essential coverage and largely finalize the rules in the notice of proposed rulemaking published in the Federal Register on February 1, 2013.” The version published Aug 26 is 75 pages.

Link to the IRS final regulations:

https://s3.amazonaws.com/public-inspection.federalregister.gov/2013-21157.pdf

https://www.federalregister.gov/articles/2013/08/30/2013-21157/shared-responsibility-payment-for-not-maintaining-minimum-essential-coverage