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YouTube video text script - Health Care Law Employer Shared Responsibility Payments

HI… I’M TERRY… AND I WORK FOR THE INTERNAL REVENUE SERVICE.
     
UNDER THE HEALTH CARE LAW… SOME EMPLOYERS ARE SUBJECT TO THE EMPLOYER SHARED RESPONSIBILITY PROVISION.
    
THIS PROVISION SAYS THAT… IN GENERAL… CERTAIN EMPLOYERS … ONES CALLED APPLICABLE LARGE EMPLOYERS… NEED TO OFFER AFFORDABLE HEALTH COVERAGE THAT PROVIDES MINIMUM VALUE TO THEIR FULL-TIME EMPLOYEES AND THEIR DEPENDENTS.
    
IF YOU’RE AN APPLICABLE LARGE EMPLOYER AND YOU DON’T OFFER MINIMUM ESSENTIAL COVERAGE… YOU MAY BE REQUIRED TO MAKE A SHARED RESPONSIBILITY PAYMENT.
    
YOU’RE AN APPLICABLE LARGE EMPLOYER IF YOU HAVE 50 OR MORE FULL-TIME EMPLOYEES… INCLUDING FULL-TIME EQUIVALENTS.
    
THIS PROVISION APPLIES EVEN IF YOU’RE A TAX-EXEMPT ORGANIZATION OR A GOVERNMENTAL ENTITY… INCLUDING FEDERAL… STATE... LOCAL AGENCIES AND INDIAN TRIBAL GOVERNMENTS.
    
AS AN APPLICABLE LARGE EMPLOYER… YOU’RE SUBJECT TO THE SHARED RESPONSIBILITY PAYMENT IF AT LEAST ONE FULL-TIME EMPLOYEE RECEIVES THE PREMIUM TAX CREDIT…OR P-T-C… AND YOU DIDN’T OFFER COVERAGE TO YOUR FULL-TIME EMPLOYEES AND THEIR DEPENDENTS… OR YOU OFFERED COVERAGE THAT WAS NOT AFFORDABLE OR IT DIDN’T PROVIDE MINIMUM VALUE TO YOUR FULL-TIME EMPLOYEES AND THEIR DEPENDENTS.
     
UNLIKE MOST OTHER PAYMENTS… YOU WON’T CALCULATE… REPORT OR INCLUDE THIS PAYMENT WITH ANY INFORMATION RETURN YOU FILE.
    
INSTEAD… THE I-R-S WILL FIGURE YOUR POTENTIAL LIABILITY BASED ON INFORMATION WE RECEIVE WHEN YOU AND YOUR EMPLOYEES FILE RETURNS.
    
WE WILL SEND YOU A NOTICE ABOUT THE AMOUNT YOU APPEAR TO OWE … AND YOU’LL BE ABLE TO RESPOND BEFORE WE ASSESS ANY PAYMENT.
    
FOR MORE DETAILS ON THIS AND ANY OTHER HEALTH CARE TAX PROVISIONS … VISIT I-R-S-DOT-GOV-SLASH-A-C-A.  

Page Last Reviewed or Updated: 18-May-2016