More Fines Are Incoming. Are You Prepared
You know how some people collect stamps or go bird watching to relax? I wanted to share one of my favorite pass times with you - searching google for any news on tax fines, changes to tax law, and the like.
And boy did I find a whopper of a story this morning.
The IRS has finished it’s preparations and is ready to start enforcing the Employer Mandate of the Affordable Care Act - meaning that if your company doesn’t provide insurance for its employees, you could be facing over a million dollar fine!
And the worst part is that the only notice these companies will be getting is a letter in the mail saying that they have failed to comply. I would not want that letter to land on my desk… Yikes!
And while FEINSearch and REALSearch can’t help you avoid that fine if you have one coming, it can help you avoid the looming fines for not filing your 1099s correctly on Jan 31st. We provide you with the tools you need to verify all the TIN, EIN, and SSN records you have on file so you can avoid getting on the wrong side of the IRS.
You maybe think that compared to the Health Law, a 1099 fine doesn’t seem so bad. Don’t be foolish. Even if you only have a hundred 1099s to file, that could be a $28,600 fine if there are mistakes on them.
Play it safe, get your verification done with FEINSearch or REALSearch, and relax about the Jan 31st deadline.
Check us out at www.feinsearch.com or www.realsearch.com to get started.