There is one simple way that you can avoid having to owe the Internal Revenue Service $1,000,000– and that’s by filing a specific form correctly. Businesses that are filling out the 1095 forms for the very first time are required to fill out the Affordable Care Act. If they don’t, their penalty could be the above price. A professional tax attorney in Sacramento has the ability to help you out with your taxes and prevent this from happening to you. Just this summer, the IRS announced an increase in penalties for failure to file correct information for returns and more. If a business owner were not to carefully fill out the Affordable Care Act and then file after December 31, 2015, they may be looking at a nicely sized bill. Sacramento tax attorney, Tax Tiger, is confident that if you were to be served with this penalty, with a professional’s help you can bring down the overall price.
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