Federal Tax

a new employer shared responsibility provision tool

  • 1.  a new employer shared responsibility provision tool

    Gold Most Valuable Member
    Posted 06-06-2016 03:19 PM

    The IRS Taxpayer Advocate Service (TAS) https://www.irs.gov/advocate has developed a new employer shared responsibility provision tool designed to help employers better understand how the Affordable Care Act - Employer Shared Responsibility Provision (ESRP) works and learn how the provision may apply to them. 

     

    Employers can use the TAS - ESRP Estimator  to determine:

    ü  the number of their full-time employees, including full-time equivalent employees (FTEs),

    ü  whether they might be an applicable large employer, and

    ü  an estimate of the maximum amount of their potential liability for the employer shared responsibility payment.

    ü   

    The TAS announcement about this tool can be found at the following TAS link:   http://taxpayeradvocate.irs.gov/news/new-employer-shared-responsibility-provision-estimator-tool-is-now-available?category=Tax%20News

     

    Additional information about this and other TAS estimators, including links to their full set of ACA estimator tools can be found on the Affordable Care Act Estimator Tools web page at https://www.irs.gov/affordable-care-act/affordable-care-act-estimator-tools.  Because these tools provide only an estimate, taxpayers should not rely upon them as an accurate calculation. Taxpayers should use these estimators only as a guide to assist in making decisions regarding their tax situation.  We have also included mentions of the tool and these links at the appropriate locations on our IRS.gov/aca web pages.

     Special Thanks to Carol Markman for bringing this to our attention

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    Sanford Zinman
    ZINMAN ACCOUNTING
    Tarrytown NY
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