Treasury also announced that, because Information Reporting is key to Treasury’s enforcement of the employer coverage mandate and related penalties under PPACA (i.e., “Employer Play-or-Pay”), the Transition Relief will extend to the Employer Play-or-Pay penalties, and thus such penalties will not apply until 2015.  According to Treasury, the Transition Relief does not affect compliance with PPACA’s individual coverage mandate or access by individuals to premium tax credits available under PPACA; however, it is currently uncertain how the IRS will administer either of these requirements absent Information Reporting. Treasury indicated that formal guidance regarding the Transition Relief would be issued this week.