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Why You Need to Get Your ACA Reporting Forms Right This Coming Year
HUB InternationalLink to more items from this source
[Guidance Overview]
Dec. 9, 2021

"Every year since the ACA reporting forms have been required, the IRS has indicated that it would not assess penalties due to incorrect forms as long as the employer could show that it made 'good faith' efforts to comply.... That relief is now over.... [A]ny error can trigger potential penalties of up to $560 per form ... While it is possible to get penalties waived on a showing of 'reasonable cause', this is a higher standard to overcome."

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