SC Nebraska News

Washington, D.C. – Rep. Adrian Smith (R-NE), Rep. Mike Thompson (D-CA), and Chairman Jason Smith (R-MO) released the following statements after H.R. 3801, the Employer Reporting Improvement Act, was advanced by the House Committee on Ways and Means on a 37-0 vote:

“The Employer Reporting Improvement Act is an important step toward streamlining employer reporting requirements,” said Rep. Adrian Smith. “Now more than ever, employers need certainty to navigate the evolving needs of the workforce, and I’m glad to see this bipartisan bill favorably reported out of the Ways and Means Committee.”

“I am glad that the Ways and Means Committee on June 7 passed my bill reducing administrative burdens and making it easier for businesses to comply with the Affordable Care Act,” said Rep. Mike Thompson. “This bill will streamline reporting requirements so companies can focus on what they do best – creating jobs and growing our local economies.”

"Small businesses need more certainty from the IRS," said Chairman Jason Smith. "It’s not right that a supercharged IRS can leave small businesses in limbo, sometimes for years, about whether they correctly filed their health insurance coverage information. Small businesses should be focused on serving employees and customers, not fulfilling Washington mandates. Representatives Smith and Thompson’s Employer Reporting Improvement Act reins in the IRS’ ability to penalize American small businesses and gives them peace of mind that they won’t be unfairly hit with a penalty."

The Employer Reporting Improvement Act permits employers to electronically file certain documents related to employees’ health coverage if the employee has previously agreed to electronic statements. It also streamlines reporting by allowing employers the option to use covered individuals’ full name and date of birth if the employer is unable to collect the covered individuals’ taxpayer identification number. Finally, it creates a six-year statute of limitations. 

Original source can be found here