IRS seeks Feedback from Small Business Owners

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The IRS and Treasury Department are seeking feedback from small business owners who employ at least 50 full-time staff members on the Affordable Care Act. The Affordable Care Act requires employers of 50 full-time workers or more to help pay for the cost of government-run health insurance to their employees. If you are such an employer, the portion you have to pay is called your ‘shared responsibility’ payment and this provision in the Act comes into effect in 2014.

This notice seeks views on several issues that will be included in future guidance for employers on how to comply with the provisions of the Act. For example, one of the views sought is the criteria to determine who is a full-time employee.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

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