Small businesses should look out for ACA tax penalty notices

The IRS will begin sending out health insurance penalty notices to employers within the next month to companies who did not comply with Affordable Care Act requirements. If your small business gets one, the first thing to do is check it over carefully. Since this is a first time penalty, there are likely to be errors. Some employers not subject to the penalty might receive a penalty notice.

The second logical step would be to do the penalty calculation accounting, I am happy to help work with employers who might be affected.

In any case, if you get one of these IRS notices known as “Letter 226J”, act quickly and don’t ignore the notice.