Article: Penalties Double For ACA Filing Failures

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Penalties Double For ACA Filing Failures

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Penalties Double For ACA Filing Failures

September 10, 2015 Robert Sheen Editorials, Legislation, Regulations

Penalties for failure to satisfy the complex IRS filing requirements resulting from the Affordable Care Act (ACA) have just doubled. With filing deadlines approaching, employers should act quickly to ensure they are prepared.

An article by attorneys with Steptoe & Johnson points out that, starting in February 2016, the ACA requires employers and healthcare providers to file new IRS information returns in connection with employer-provided healthcare coverage, and provide a copy of the applicable return to each employee.

The penalties for failing to comply with the reporting requirements are steep and are scheduled to double in 2016.

For any questions or a consultation on the ACA or IRS Letter 226J, contact Gregg Kasubuchi of First Capitol Consulting at (213) 355-5108 or at gkasubuchi@fcci.us.com.

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Robert Sheen

Esq., is editor-in-chief of The ACA Times. He also is founder, president and CEO of First Capitol Consulting

Robert Sheen is Founder and President of First Capitol Consulting, Inc. Robert is a graduate of the University of Southern California, in Business Administration with an emphasis in International Finance. He earned his Juris Doctor from Loyola Law School, Los Angeles, concentrating in Tax Law.

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