Large employers are required to file Form 1094-C and Form 1095-C with the IRS to report the health insurance coverage they offer employees. These forms ensure compliance with the Affordable Care Act (ACA) and help the IRS confirm that employers are meeting their legal obligations. When these forms are not filed, businesses can face significant IRS penalties that build up quickly and threaten their financial stability.
Watch as Jennifer Oneil, President and Enrolled Agent of IRS Help, shares the story of how this company faced a $1.5 million tax lien over unfiled 1094-C and 1095-C forms, and why filing the right forms on time is critical to protecting your business.
How Unfiled 1094-C and 1095-C Forms Triggered Massive IRS Penalties
In this case, a large company failed to file its required 1094-C and 1095-C forms. The CEO was unaware of the missing filings, and penalties of $250,000 per year began accumulating. The situation worsened because most of their team was working remotely during this period, and they missed IRS-certified letters about the penalties. The IRS sometimes sends notices to outdated or incorrect addresses, but businesses are still responsible for tax liabilities and penalties even if they don’t receive the notice.
The $1.5 Million IRS Lien That Threatened the Business
As the penalties grew, the IRS placed a $1.5 million tax lien against the company. The lien blocked the sale of a valuable property that the business was trying to close and put them at risk of IRS bank levies. The financial future of the business was in serious jeopardy.
How IRS Help Resolved the IRS Lien and Penalties
The company turned to IRS Help, a trusted nationwide tax resolution firm. IRS Help worked closely with the business’s leadership to file the missing 1094-C and 1095-C forms and bring the company into compliance. They also engaged with the IRS, appealed the penalties, and successfully secured a release of the $1.5 million tax lien, saving the company from disaster and protecting their assets from IRS collections.
Why Staying Compliant With IRS Forms Like 1094-C and 1095-C Protects Your Business
Failing to file required IRS forms like 1094-C and 1095-C can lead to devastating financial consequences. IRS penalties, tax liens, and enforced collections can put even large, successful businesses at risk. It’s critical for employers to stay on top of compliance requirements and act quickly when IRS issues arise, whether you’re in Buffalo, NY, or anywhere else in the U.S.
Get Expert Help With IRS Liens, Penalties, and Compliance
If your business is facing an IRS lien, IRS penalties, or has unfiled compliance forms, contact IRS Help today. Our team provides nationwide support and has experience resolving high-stakes IRS issues in regions like Buffalo, NY, and beyond.
Explore more about IRS penalties and solutions by watching our videos on YouTube and visiting our website at irshelp.com. Don’t wait until the IRS takes action. Get the expert support your business needs now.