New, bipartisan legislation is being introduced in Congress to help hospitality businesses comply with the Affordable Care Act.
This legislation directs the Treasury Department to implement an alternative, prospective reporting system that couples secure data collection with the efficiency employers need. The voluntary prospective reporting system created under this legislation would make important data available during the Exchange enrollment process, rather than after a coverage year has ended, and streamlines the reporting requirements for employers and insurers. Additionally, it protects the privacy of individuals’ Social Security numbers, authorizes the electronic transmission of reporting information, and establishes oversight of reporting verification.
Both the National Restaurant Association and ORLA support legislation that streamlines employer process and provides individual consumers with much-needed safety nets, employers with relief from duplicative and confusing reporting requirements, and Exchanges with an additional tool to verify tax credit and subsidy eligibility.
Contact Greg Astley at Astley@oregonrla.org if you have received a “226J” letter from the IRS so he can share that information with our partners at the National Restaurant Association and help pass this important legislation.