Employer Shared Responsibility Payment (ESRP) Letters, or IRS Letter 226-J have been distributed by the IRS to notify employers of their liability for the Affordable Care Act (ACA) penalties and that these penalties must be acted upon quickly to avoid further issues with the IRS. There is a 30-day calendar from the date of the assessment letter with which to respond to the IRS regarding the penalties.
Acting Upon IRS Letter 226-J
The ACA is the act ensuring that health care across the states will be affordable for people of different backgrounds and to ensure fair prices. If these standards aren’t met by your medical practice, then you will receive the IRS letter to make sure that you meet the criteria enforced as affordable care.
This was implemented to increase the overall quality of health care across the states. Sometimes suffering from ill health can be scary due to the incredibly high prices a hospital can ask you for the care, but the ACA looks out for the consumer to ensure their money is safe and that the prices of healthcare is affordable for as many people as possible.
If you receive this letter then it is incredibly important that you respond, but it is likely that you may need some legal help to ensure that you are getting all of the vital information correct, and it’s never wrong to seek consultation from legal experts when trying to create a response to the letter and to also ensure that you are, in future, able to comply with ACA standards and run a legal and affordable healthcare practice.
Dedicated and professional help can aid you through troubling times and help you avoid further penalties keeping your business practicing and ensuring your safety from future problems with the business and keep liaisons with the IRS to keep you focused on your business and handle the legal side of your business without you needing to get hands on, unless you wanted to.
There is also the option of analysis of and help with any changes to the Affordable Care Act so as to keep you up to date with the potential ever changing laws and rules in place by the government, keeping you up to date with what may or may not need to change in the way that your business is run.
Legal specialists are a vital piece of practicing a law abiding health business and getting one to help you could be the difference to ensure you a nice and long future in the health industry without any monetary or legal penalties on your business that could stop you from running in an efficient and effective manner, and a dedicated specialist is, for many, a necessary cost when the law is involved and for when the law can change at any moment.
If you want to ensure compliance with the Affordable Care Act and prevent receiving further IRS letters then getting a dedicated professional of the law is highly recommended, and if you received such a letter recently then you should act now and get back to business as soon as possible.