Penalty letter for employers that are Affordable Care Act noncompliant
The IRS has issued penalty letters to employers that appear to be noncompliant with the Affordable Care Act’s (ACA’s) employer shared responsibility provision.
Penalties are expected, and will be assessed, against employers with at least 50 employees that failed to provide insurance to full-time employees and their dependents. The initial batch of letters will cover calendar year 2015.
For more information, access the IRS’s frequently asked questions page regarding employer shared responsibilities under the ACA, or contact your CPA at Ricci & Company