IRS Reporting: Now What?

Applicable large employers and self-funded employers of all sizes have now completed the first round of required IRS reporting under the Patient Protection and Affordable Care Act (ACA). Employers that did not fulfill all of their obligations under the employer shared responsibility provision (play or pay) might owe a penalty to the IRS. This ACA Advisor explains when the penalty is triggered, how the penalty will be assessed and documentation employers must have.