For those employers subject to the healthcare reporting requirements, you’re getting a break from the government, which doesn’t happen too often. The transition relief is intended to provide employers time to adapt their health coverage and reporting systems, among other things.
Of course, relief from the government is short lived. Both employer reporting and the requirement for the employer to offer a certain level of healthcare starts in 2015. But Employers are encouraged to voluntarily comply with reporting provisions for 2014 in preparation for 2015.
Right, I’m sure there will be millions of employers lining up for that opportunity. Not. If you want the full run-down, check out Notice 2013-45 on www.irs.gov.