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News Link • TAXES: Federal

IRS To Employers: Pay ObamaCare 'Shared Responsibility' Or Else

• http://www.forbes.com

Of course, there has been a lot of confusion among employers about implementing the coverage mandate and their responsibilities, just as there has been a lot of confusion among states about the rules and regulations associated with the health insurance exchanges.

Just so everyone is clear, what the IRS says is:

Section 4980H generally provides that an applicable large employer is subject to an assessable payment if either (1) the employer fails to offer to its full-time employees (and their dependents) the opportunity to enroll in minimum essential coverage (MEC) under an eligible employer-sponsored plan and any full-time employee is certified to the employer as having received an applicable premium tax credit or cost-sharing reduction (section 4980H(a) liability), or (2) the employer offers its full-time employees (and their dependents) the opportunity to enroll in MEC under an eligible employer-sponsored plan and one or more full-time employees is certified to the employer as having received an applicable premium tax credit or cost-sharing reduction (section 4980H(b) liability).  Generally, section 4980H(b) liability may arise because, with respect to a full-time employee who has been certified to the employer as having received an applicable premium tax credit or cost.

Everybody got that?

You will notice that “assessable payment” is what Chief Justice John Roberts considers a tax.

 

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