The reporting requirement will eventually assist the IRS in verifying that taxpayers have coverage.
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The reporting requirement extends to cover social networking sites, ISPs, and email providers.
The reporting requirement under the new law will make many more taxpayers aware of the actual cost of their health care benefits.
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These recommendations include: A Simple Due Diligence Disclosure Document, Management Attestation, Standardized Financial Reporting Requirement, and Consistent Regulation of Financial Intermediaries.
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He said it does not explain how the reporting requirement would be handled or whether it fits with the planned Year 2000 Information Coordination Center.
Without any real benefit stemming from the collection of this information, imposition of this reporting requirement seems to be a solution in search of a problem.
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In 1986 they won this battle: a federal reporting requirement was enacted, and California passed a ballot initiative that Mr Roe had drafted, requiring another layer of disclosure from state firms.
The reporting requirement also will put pressure on companies to abide by "antidiscrimination" rules designed to keep the coverage of highly paid executives in line with that of lower-paid workers, Ms. Davis says.
Tragically, the requirement to post results on clinicaltrials.gov has not been adequately enforced, and the most recent audit, published in January 2012 in the British Medical Journal, shows that only one in five trials met its reporting requirement.
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Why the new reporting requirement?
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There is a suggestion that the mandatory requirement for quarterly reporting be dropped, but multinational companies will still have to report quarterly to their American investors.
But all the firms quickly saw that they could now charge a lot more for the audit itself given the new requirement for a separate opinion on internal controls over financial reporting and the amount of work some sloppy companies had to do to document, test, and confirm internal controls.
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"Clubs are now in a reporting period that will count towards the first assessment of UEFA's financial fair play break-even requirement for international competition and Premier League clubs are also considering the implementation of additional cost control regulation at a domestic level, " added Jones.
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