Have all your forms been filed? Have you send in your transmittal? If you haven’t, you need to file as soon as you can because penalties will only increase the longer you delay. This year, the IRS is looking for a timely furnishing and filing by organizations as part of a good faith effort to report this year. And remember, these ACA penalties are steep, have been increased twice already in the last year and can quickly add up.
This ACA Penalties Chart is designed to assist you in understanding the key deadlines and timing of potential penalties going forward. ACA reporting compliance can be complicated to track and understand—so Sovos is stepping up to keep you informed as your trusted partner in business-to-government compliance.
At Sovos, we are here to help you stay compliant. Below is a handy chart you can use to keep track of the penalties.
Feel free to download this ACA penalties chart and if you need help complying, please feel free to contact us to talk about your ACA reporting needs.
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