Notice 2014-47 - “Covered entity” for health insurance provider fee for the 2014 fee year 

August 12:  The IRS today released an advance copy of Notice 2014-47 with guidance as to how the IRS will administer the definition of a “covered entity” for purposes of the health insurance provider fee for the 2014 fee year.

Today’s notice provides a deadline of August 18, 2014, for health insurance providers to correct a previously submitted Form 8963 for the 2014 fee year to apply the guidance in Notice 2014-47.


Notice 2014-47 [PDF 14 KB] is intended to:


  • Resolve confusion as to the scope of the exclusions from the general definition of “covered entity” under the Affordable Care Act section 9010
  • Clarify that a controlled group does not have to report for a controlled group member who would not qualify as a covered entity in the 2014 fee year if it were a single-person covered entity

Corrective action due by August 18

Notice 2014-47 provides that any entity that needs to correct a previously submitted Form 8963, Report of Health Insurance Provider Information, because of the clarification provided today must fax the corrected form no later than Monday, August 18, 2014. Entities that reasonably project—but do not yet know—that they will qualify for one of the exclusions under ACA section 9010 are permitted to submit a corrected Form 8963.




©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

Share this

Share this

Subscribe

Current and future KPMG clients may subscribe to TaxNewsFlash email alerts.


Email your contact information.

Other TaxNewsFlash publications

TaxNewsFlash-United States by year