Affordable Care Act Information Reporting Requirements Delayed Until 2015

The U.S. Treasury Department (?Ç£Treasury?Ç¥) announced on July 2, 2013, that the mandatory employer and insurer reporting requirements under Sections 6055 and 6066 of the Internal Revenue Code (?Ç£Information Reporting?Ç¥), as enacted by the Patient Protection and Affordable Care Act (?Ç£PPACA?Ç¥), will be postponed by one year (?Ç£Transition Relief?Ç¥).?á Absent the Transition Relief, Information Reporting would have applied to health coverage provided by employers during 2014.?á The Transition Relief may be viewed as a welcome development by employers who need additional time to implement appropriate procedures for administering Information Reporting and other PPACA requirements.