Posted on Sunday, March 10, 2019 7:59 PM
The Internal Revenue Service (IRS) is now issuing new financial penalties as part of the agency’s ongoing enforcement of the Affordable Care Act. Home health operators are vulnerable to these penalties, as some home health operators have already been fined.
“These notices assess penalties on employers that failed to file forms 1094-C and 1095-C with the agency or to furnish 1095-C forms to employees for the 2015 or 2016 tax year. These penalties are under IRC Section 6721/6722 and are separate from the IRC Section 4980H penalties for failing to offer the required healthcare coverage.
It appears that the IRS is calculating these IRC 6721/6722 penalty assessments for certain employers based on the number of W-2s the employers filed with the IRS. These IRC 6721/6722 penalty assessments are proposed using Letter 5005-A and Form 886-A.”
Home care agencies are often shocked when they are fined, especially when the fines can be millions of dollars.
Date: Tuesday, March 19, 2019
Time: 2:00pm – 3:00pm ET
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