The IRS has released a 7-point breakdown of pertinent information for Applicable Large Employers or “ALEs” in anticipation of the upcoming deadline for information reporting for the 2016 tax year. The IRS release includes everything from deadlines to documents, as well as how to file (via paper filing or electronically) and which information goes where. While it may seem simple on its face, several points in the IRS release were all subject to error from ALEs this past year when filing for 2015. Some issues have resulted in exposure to hefty penalties. In an effort to prevent further expenses due to minor errors, The ACA Times has provided an infographic of what to know. Print it out and keep it; it may save you money come 2017.
