ILLMAS Posted October 17, 2014 Report Share Posted October 17, 2014 Lets have some fun and try to calculate the penalty for these companies that fail to comply with ACA employer mandate: 1. For 2015 ABC, Inc has 101 FT employees and 200 PT employees, what would be the penalty for this employer? 2. A married couple owns two business: a tax practice with 14 FT employees and 6 PT employees and the accounting business with 35 FT employees and 50 PT employees, for 2016, what would be the penalty for this employer? 3. From question 1, ABC, Inc increased their workforce by an additional 25 FT employees, and still does not provide coverage, 39 of the employees got tired of waiting for the employer to provide the coverage and went ahead applied for coverage through the exchange, what would be total penalty for ABC, Inc? Hints All FT work more than 30 hours per week, all PT work exactly 29 per week. The employer responsibility provision will generally apply to larger firms with 100 or more FT employees starting in 2015 and employers with 50 or more FT employees starting in 2016. You may use any penalty calculator out there. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted October 17, 2014 Report Share Posted October 17, 2014 My head hurts already. 3 Quote Link to comment Share on other sites More sharing options...
RitaB Posted October 17, 2014 Report Share Posted October 17, 2014 I had fun yesterday. 2 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted October 17, 2014 Report Share Posted October 17, 2014 No fun for us! 2 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted October 17, 2014 Author Report Share Posted October 17, 2014 How do you ruin a party? Invite an accountant. 6 Quote Link to comment Share on other sites More sharing options...
RitaB Posted October 17, 2014 Report Share Posted October 17, 2014 How do you liven up an accountant's party? Invite an undertaker. 7 Quote Link to comment Share on other sites More sharing options...
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