Coming soon to an employer near you

IRS Penalties for Employer Coverage Reporting Violations!

As we head to the final months of 2017, the IRS has made it very clear where they stand with regard to ACA reporting violations – report or be prepared to face penalties.

Employers who are considered “Applicable Large Employers” must furnish Form 1095-C to individuals no later than January 31, 2018 (for the 2017 tax year) and must e-file with the IRS no later than April 2, 2018.

The fine to the employer for failing to furnish forms to individuals, or furnishing incomplete or inaccurate information is $260 per form – up to a maximum fine of $3 million. Additionally, the fine for not filing the forms with the IRS is an additional $260 per form (for a total fine of $520 per form).

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