As part of the Affordable Care Act enacted in 2015, applicable large employers (ALEs) need to offer health insurance coverage that is both affordable and provides a minimum value to their full-time employees, or the business will be required to make an Employer Shared Responsibility payment to the IRS.
If this situation has applied to your business, you may have received a notice called a 226J letter from the IRS advising of a preliminary calculation of the assumed payment due. If so, Golden Lion Tax Solutions can help you assess the situation. We may be able to help you to eliminate or reduce the payment if the assessment is inaccurate, or if it is valid, we can work to represent your company’s interests to push for the most appropriate resolution to address the debt. Call Golden Lion Tax Solutions to discuss your options today.
Disclaimer: There are requirements that must be satisfied in order to qualify for some of the tax solutions we discuss on our website. Not all of our services will be suitable for every client. Golden Lion Tax Solutions is here to help you find the most appropriate resolution strategy to fit your situation.