First Employer Play or Pay Mandate Penalty Letter Received

From Savoy Benefits 11/17/17- A client has received Letter 226J from the IRS. This is the first client we have heard from that has been assessed and issued an employer mandate penalty. The proposed penalty is over $200,000. This employer has approximately 140 employees and offers coverage to all full-time employees and dependents using the federal poverty level (FPL) safe harbor. Why Did …

IRS Announces Procedures for the Assessment and Payment of Excise Taxes Under the Employer Shared Responsibility Mandate

From Savoy Benefits  11/9/2017 :   Basics of the Employer Shared Responsibility / Play or Pay MandateStarting in 2015, employers with at least 50 full-time including equivalent employees, on average, in the preceding calendar year, are subject to the Employer Shared Responsibility provision of the Affordable Care Act (ACA). All union, part-time, variable hour and seasonal employees are counted to …