Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR directs his attention to small to medium size businesses, saying that while they may be healthy now the shared responsibility provision could put them in jeopardy with the IRS.
Fairhope, AL, December 1, 2017: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently posted a new article on his website entitled “Your Healthy Business Could Be In Big IRS Trouble,” in which Mr. Willis provides information about the Shared Responsibility Provision.
“If you have 50+ employees and do not offer your workers health insurance,” says Willis, “you could be getting a letter from the IRS that could affect the health of your business.” He continues adding, “According to a recent New York Times article, “thousands of businesses — many of them small or midsize — will soon receive a letter saying that they owe the government money because they failed to offer their workers qualifying health insurance.”
Willis writes, “Maybe you already received a letter.” He adds, “ As the article states, “The first round of notices, which the I.R.S. began sending late last month, are being mailed to companies that have at least 100 full-time employees and ran afoul of the law in 2015, the year that the mandate took effect.”
Willis states, “The Shared Responsibility Provision rules are pretty complex, however as the Times reported, “businesses will generally incur fines of around $2,000 per employee (excluding the first 30) if they do not offer qualifying coverage to nearly all of those who work an average of 30 or more hours a week.” He continues elaborating, “Additionally the fine increases each year. The Times gave the following example. “A company with 100 workers that ignored the law this year would owe a penalty of more than $158,000.”
According to Willis, “The Shared Responsibility Provision will likely not be an issue for large corporations with teams of lawyers at their beck and call. These businesses are accustomed to having back and forth conversations with the IRS.” “However,” he adds, “for the small to mid-size companies, which are the ones that will most likely owe penalties, it could be devastating without someone who knows the ins and outs of dealing with the IRS. This rule applies to all businesses, even tax-exempt organizations and government entities. “
The entire article can be read at: http://www.irsallstar.com/articles/your-healthy-business-could-be-in-big-irs-trouble.php
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 15 years and he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities.
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.