IRS Letter 5005-A is issued to employers who fail to comply with the reporting requirements mandated by the Affordable Care Act (ACA). This letter specifically addresses failures related to the provision of health coverage information that should be reported annually to both the IRS and the covered … [Read more...]

Section 6722 of the Internal Revenue Code focuses on penalties for providing incorrect statements to payees, a critical component in maintaining compliance under the Affordable Care Act (ACA) among other tax-related responsibilities. This section penalizes the failure to provide accurate information … [Read more...]

Section 6721 of the Internal Revenue Code addresses penalties imposed for the late filing or incorrect filing of information returns, including those related to the Affordable Care Act (ACA) compliance. This section is critical for employers as it defines the financial repercussions for not adhering … [Read more...]

IRS Notice 972CG is issued to employers who fail to meet the reporting requirements under the Affordable Care Act (ACA). This notice pertains to penalties for incorrect or late filings of ACA-related forms, specifically impacting the accuracy and timeliness of submissions like Form 1094-C and Form … [Read more...]

IRS Notice CP504J is an urgent notification sent to employers indicating a serious delinquency in paying the Employer Shared Responsibility Payment (ESRP) under the Affordable Care Act (ACA). This notice signifies a looming penalty which can amount to as much as $500,000, demanding immediate … [Read more...]