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ACA UPDATES FOR 2023
On Aug. 16, 2022, the IRS updated its frequently asked questions (FAQs) on the employer shared responsibility (“ESRP” or “pay or play”) rules under the Affordable Care Act (ACA) to include updated penalty amounts for 2023. For calendar year 2023, the “sledgehammer” adjusted penalty amount is $2,880 and the “tack hammer” adjusted penalty amount is $4,320.
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