While it seems the IRS piles on new regulations annually, the 2014 tax year is shaping up to be even busier in terms of updates and changes that could have a significant impact on both corporate and individual taxpayers. Here is a brief look at some of the new provisions that will require your attention in the months ahead.

Mid-size companies get another delay on healthcare mandate. Employers with 50 -99 full-time equivalent (FTE) employees now have until 2016 before they are required to provide affordable health care to employees. Businesses must file paperwork certifying that they are eligible for the delayed enforcement. Caution must be exercised, as "related party" businesses may be treated as a single unit for counting FTE. Employers of 100 or more FTE workers will still have to comply with the health care mandate in 2015, and should be looking into such issues as measurement and establishing a stability period.

Individuals must purchase health care coverage or be fined. Starting in 2015, individuals without employer-sponsored health care will be required to purchase their own coverage. The IRS will issue new forms for individuals to prove they have coverage, which will be confirmed with health care exchanges and insurers. If you are a Massachusetts resident, this is not news, as the state Department of Revenue has required this proof of coverage for several years. Now the IRS wants to see it, too.