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New Affordable Care Act tax in effect

Do you need to pay?

10:26 pm on Jul 18, 2013 (gmt 0)

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WebmasterWorld Administrator lifeinasia is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month

joined:Dec 10, 2005
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Just got an e-mail from my tax preparer. If you reimburse any medical expenses of your employees, there's a new tax you'll have to pay and it's due by the end of July. It's $1/covered employee (jumping 100% to $2/employee next year) and you'll need to file IRS Form 720. For more info, see Form 720 instructions [irs.gov] (page 9).

NOTE: This is not intended to be a political discussion (any political comments will be removed per the ToS), but rather a heads up for any U.S. companies that reimburse medical expenses.