[Federal Register Volume 79, Number 228 (Wednesday, November 26, 2014)]
[Notices]
[Pages 70615-70616]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-28039]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
November 21, 2014.
The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, Public Law 104-13, on or after the date of
publication of this notice.
DATES: Comments should be received on or before December 26, 2014 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestion for reducing
the burden, to (1) Office of Information and Regulatory Affairs, Office
of Management and Budget, Attention: Desk Officer for Treasury, New
Executive Office Building, Room 10235, Washington, DC 20503, or email
at [email protected] and (2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email
at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by calling (202) 927-5331, email at [email protected], or the
entire information collection request maybe found at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-2251.
Type of Review: New Collection.
Title: Information Reporting by Applicable Large Employers on
Health Insurance Coverage Offered Under Employer-Sponsored Plans (TD
9661--Final)
Abstract: This collection effort contains documents providing
guidance to employers that are subject to the information reporting
requirements under section 6056 of the Internal Revenue Code (Code),
enacted by the Affordable Care Act (generally employers with at least
50 full-time employees, including full-time equivalent employees).
Section 6056 requires those employers to report to the IRS information
about the health care coverage, if any, they offered to full-time
employees, in order to administer the employer shared responsibility
provisions of section 4980H of the Code.
Section 6056 also requires employers to furnish related statements
to their employees. These statements to employees may be used to
determine whether, for each month of the calendar year, the employee
may claim on their individual tax returns a premium tax credit under
section 36B (premium tax credit). The regulations provide for a general
reporting method and alternative reporting methods designed to simplify
and reduce the cost of reporting for employers subject to the
information reporting requirements under section 6056.
IRC Sec. 6055 states beginning in January 2015, Health Insurance
Marketplaces will be required to provide end of year information
reporting in the form of information returns. IRC Sec. 6056 states all
insurance providers issuing Minimal Essential Coverage and Applicable
Large Employers will have the option to begin voluntarily transmitting
information returns to meet ACA information reporting requirements in
2015; however, these requirements will become mandatory in January
2016, for the 2015 Tax Year. Section 6011(e)(2)(A) of the Internal
Revenue Code provides that any person, including a corporation,
partnership, individual, estate, or trust, who is required to file
[[Page 70616]]
250 or more information returns, must file such returns electronically.
For the voluntary year of reporting, the burden estimates for each
form are listed below.
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Number of Time per
Form responses response Total hours
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4423...................................................... 6 20 min. 2
1094-B.................................................... 15,000 4 hrs. 60,000
1095-C.................................................... 3,850,000 12 min. 750,000
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Total................................................. ................ ................ 810,002
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Estimated Total Burden Hours: 86,072.
Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2014-28039 Filed 11-25-14; 8:45 am]
BILLING CODE 4830-01-P