IRS Begins Enforcing ACA Mandates
Today the IRS has issued a warning that they will begin implementing the ACA mandate penalties. Also, they will not accept 2017 income tax returns that do not comply with the Affordable Care Act rules which require each person to disclose the type of health insurance coverage they maintained for the year.
“Obviously, this has an impact on employers. Most employers have worked to stay compliant with the requires ACA reporting requirements, however there still are many employers … believe it or not … who have simply disregarded reporting up to this point. With the mandates being enforced, this is going to be expensive for those who have disregarded their reporting.”
To view the IRS notification to tax professionals, click here.