Paperwork Burden Reduction Act

Bill: 118-s-3227
Sponsor: full_name: Sen. Thune, John [R-SD]
Introduced: 2023-11-06
Policy area: Taxation
Latest action: action_date: 2023-11-06
text: Read twice and referred to the Committee on Finance. (text: CR S5361)

Summaries:
action_date: 2023-11-06
action_desc: Introduced in Senate
text: <p><b>Paperwork Burden Reduction Act</b></p> <p>This bill modifies provisions under the Patient Protection and Affordable Care Act so that employers and health insurance providers are no longer required to send tax forms to covered individuals showing proof of minimum essential coverage (1095-B and 1095-C tax forms) unless a form is requested.</p> <p>Currently, employers and health insurance providers that provide minimum essential coverage must report this information for each covered individual to the Internal Revenue Service (IRS) and provide a copy of this information to the covered individual (through 1095-B and 1095-C tax forms) by January 31 of each year. </p> <p>The IRS allows for 1095-B tax forms, which are sent by certain health insurance providers and employers, to be made available to individuals only upon request. The bill provides statutory authority for this flexibility and extends this flexibility to 1095-C tax forms, which are sent by certain large employers. Such requests must be fulfilled by January 31 or 30 days after the date of the request, whichever is later. Employers and health insurance providers must give individuals timely notice of this option, in accordance with any requirements set by the IRS.</p>

tv_txt: II 118th CONGRESS 1st Session S. 3227 IN THE SENATE OF THE UNITED STATES November 6, 2023 Mr. Thune (for himself, Mr. Warner , Mr. Young , and Ms. Cortez Masto ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to provide an alternative manner of furnishing certain health insurance coverage statements to individuals.

1. Short title This Act may be cited as the Paperwork Burden Reduction Act . 2. Alternative manner of furnishing certain health insurance coverage statements to individuals (a) Reporting of health insurance coverage Section 6055(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) Alternative manner of furnishing statements For purposes of this subsection, any person required to make a return under subsection (a) shall be treated as timely furnishing the written statement required under paragraph (1) if— (A) such person provides clear, conspicuous, and accessible notice (at such time and in such manner as the Secretary may provide) that any individual to whom a statement would otherwise be required to be furnished under paragraph (1) may request a copy of such statement, and (B) such person, on request of any such individual, furnishes a copy of such statement to such individual not later than the later of— (i) January 31 of the year following the calendar year for which the return under subsection (a) was required to be made, or (ii) 30 days after the date of such request. . (b) Certain employers required To report on health insurance coverage Section 6056(c) of such Code is amended by adding at the end the following new paragraph: (3) Alternative manner of furnishing statements For purposes of this subsection, any person required to make a return under subsection (a) shall be treated as timely furnishing the written statement required under paragraph (1) if— (A) such person provides clear, conspicuous, and accessible notice (at such time and in such manner as the Secretary may provide) that any individual to whom a statement would otherwise be required to be furnished under paragraph (1) may request a copy of such statement, and (B) such person, on request of any such individual, furnishes a copy of such statement to such individual not later than the later of— (i) January 31 of the year following the calendar year for which the return under subsection (a) was required to be made, or (ii) 30 days after the date of such request. . (c) Effective date The amendments made by this section shall apply to statements with respect to returns for calendar years after 2023.