The IRS has begun notifying employers suspected of owing an employer shared responsibility penalty for the 2015 calendar year. The notification letter describes how the penalty is assessed and includes Form 14764 to make payment or dispute the penalty, as well as Form 14765 that lists employees who received a premium tax credit that generated the penalty. An employer response is required typically within 30 days from the date of the letter. The penalty, effective for calendar years 2015 and beyond, applies to employers with 50 or more full-time employees who are required by the Affordable Care Act to provide minimum essential coverage that is affordable and provides minimum value health insurance coverage.
Clients who receive the IRS letter should contact their Bukaty Companies benefits consultant at 913.345.0440 for assistance with a response.
Note: Forms should be downloaded using Internet Explorer rather than Chrome.
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