WASHINGTON, 2014-8-29 — /EPR Retail News/ — The National Retail Federation today issued the following statement from Vice President and Employee Benefits Policy Counsel Neil Trautwein on the release of Internal Revenue Service instructions on the employer mandate’s reporting requirement:
“The additional guidance from the administration is welcomed by the employer community and retail industry. Now that we have the regulations, the forms and the instructions, companies can continue their compliance activities. While the instructions were delayed, they remain helpful.
“The Affordable Care Act is still a work in progress and additional regulatory provisions and requirements will be forthcoming. Additional delays or changes may follow.
“The retail industry remains committed to complying with the law and NRF will continue its active dialogue with the administration and its agencies to ease implementation burdens for employers and employees. NRF is hopeful that Congress can continue its productive role in health care implementation.”
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com
Stephen E Schatz