Federal Tax Alert - August 2015

August 2015

Employer Shared Responsibility Payments and Reporting under the Affordable Care Act

Employers that have exposure to a penalty under ACA for failure to offer healthcare coverage to substantially all of the fulltime employees and their dependents may be obligated to disclose this liability in their financial statements, if material. Independent auditors may be required to assess the materiality of the penalty for purposes of disclosing or omitting this item from the financial statements.