ACA Penalties

June 29, 2015
Posted in ACA 101
June 29, 2015 LI Advantage

ACA Penalties

On 6/29/2015, the Trade Preferences Extension Act of 2015 was signed into law.  Hidden within this legislation is a provision that will increase penalties relating to filing returns and providing statements required under the Affordable Care Act (ACA).  The ACA already was set to impose penalties on employers who neglect to file the proper forms, for filing incorrect forms, or for failing to provide employees with the necessary statements.  These penalties are now going to be increased.  The general fee for non-compliance was $100 per instance, but now it will be $250.

, ,
Request A Quote