Affordable Care Act (ACA) Tax Penalties

Описание: http://www.expressirsforms.com/

Hello, I’m Charles with ExpressIRSForms. Today I’m here to talk to you about some of the penalties associated with the Affordable Care Act forms.

One way applicable large employers can be penalized is if they don’t provide health insurance to their full-time employees. The penalty for this is a fee of 1/12 of $2,000 for every full-time employee you have, after the first 30 full-time employees. Even if you do provide insurance to all of your full-time employees, you can get a penalty if the coverage does not meet the minimum essential coverage defined by the ACA. If this is the case, you’ll pay 1/12 of $3,000 for every full-time employee who received part-time coverage per month.

Anyone who fails to report the coverage they provided on the ACA forms they’re required to file can face a penalty as well. The fine for this can be as much as $250 per missing form, not exceeding $3,000,000 in a year.

At ExpressIRSForms, we’re committed to doing our part to help you avoid these penalties. We’ve set up a series of informational videos and webinars to help keep you ACA compliant. And our easy-to-use e-filing software will help you file your ACA forms correctly and on time. Check us out over at www.ExpressIRSForms.com.