The Retail Industry Leaders Association (RILA) today issued the following statement in response to the Treasury Department’s announcement of the long-overdue final reporting requirement rules under the Affordable Care Act (ACA).
"Complying with the ACA reporting requirements will be an extremely daunting task for retailers. The administrative complexities of collecting and reporting this data to both the IRS and employees/plan enrollees is mindboggling for businesses of all sizes. For three years, RILA has provided policy recommendations to Treasury and the IRS to streamline the process and lessen compliance and cost burdens on retailers in an economically-challenging environment,” said Christine Pollack, vice president of government affairs at RILA. “Despite the extensive policy recommendations the retail industry has provided to the Administration, the final rules released today appear to do little to streamline or lessen the administrative burdens of these requirements.”
RILA outlined these concerns in a comment letter sent to the Internal Revenue Service (IRS), and Departments of the Treasury, Health and Human Services, and Labor on November 7. RILA’s comment letter: http://bit.ly/1eXSsq5 and press release: http://bit.ly/1l2hcOt.
RILA, the trade association of the world’s largest and most innovative retail companies, product manufacturers, and service suppliers, promotes consumer choice and economic freedom through public policy and industry operational excellence. Our members provide millions of jobs and operate more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad. RILA members offer quality and affordable health care to their employees and dependents, and are leaders in benefits design by customizing plans to meet their workforces’ specific needs.