Businesses trying to meet another big Obamacare and IRS deadline
Companies are rushing to meet a June 30 deadline to file Obamacare forms with the IRS that confirm whether employers have offered and provided health insurance to their employees. Businesses with 50 or more full-time workers should have been aware of the requirement. Failure to provide IRS forms to workers can lead to fines for employers of $250 per worker up to a maximum of $3 million.
"We still expect a lot of businesses are behind the curve on this," said Nicole Elliott, a public policy attorney and former IRS senior adviser for the Affordable Care Act. Ms. Elliott predicts a significant percentage of employers will miss the deadline.