How long does the IRS notify companies about possible penalties? ETC Companies Director of Sales Matt Scott knows the timeline and the exact ways to prevent and reduce them.
Serving clients in Houston, Texas and beyond, ETC Companies assists employers in their ACA IRS filing. While the IRS’ response can lead up to two years from the filing date, every information that a company provides is crucial. Matt stresses the importance of data and indicator codes. These will determine whether or not the company has complied with their provisions.
To prevent or reduce penalties, the business has to be specific in their reports. They also need to archive their company records because these can be the best defense against miscalculated penalties. Matt shares more of the process in this episode.