IRS Issues Updated Penalties and Forms for Upcoming Year
The IRS has updated penalties and forms for the upcoming year as follows:
- 2021 ACA A and B annual penalties for Applicable Large Employers who fail to offer minimum essential coverage that is either unaffordable or doesn’t provide minimum value: $2,700 A penalty and $4,060 B penalty.
- 2021 Affordability percentage is 9.83%
- New 2020 Forms 1094C and 1095C introduced to address ICHRAs and adding the employee age and zip code
Contact your Cornerstone representative with any questions.
