ACA Reporting Penalty Relief

bigstock--125532545The Internal Revenue Service (IRS) is providing employers who chose to electronically file Affordable Care Act (ACA) forms the chance to submit without penalty. If an employer missed the e-file deadline of June 30th, but can prove that “legitimate effort” was made to register and file, the IRS will waive the penalty as long as the forms are submitted “as soon as possible”. This includes submissions that were rejected by the ACA Information Returns (AIR) system. Employers who have not yet filed should do so immediately while the AIR system is still open for submissions.

For more information, please click here.