14 Apr IRS Releases an Opinion Letter on the Collection of Employer Shared Responsibility Penalties

IRS Releases an Opinion Letter on the Collection of Employer Shared Responsibility Penalties

The Internal Revenue Service (IRS) released an opinion letter addressing whether the employer shared responsibility penalties (ESRPs) under the Patient Protection and Affordable Care Act (ACA) are subject to a statute of limitations regarding IRS collection of the penalty amounts. In the opinion letter, the IRS states that ESRPs are not subject to a statute of limitations.

SOURCE: Meidell, M. (07 April 2020) “IRS Releases an Opinion Letter on the Collection of Employer Shared Responsibility Penalties” (Web Blog Post). Retrieved from https://blog.ubabenefits.com/irs-releases-an-opinion-letter-on-the-collection-of-employer-shared-responsibility-penalties