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We're delighted to share a recent success story from Lee Schwalb! We were able to successfully contest an Employer Shared Responsibility Payment (ESRP) proposal on behalf of a client, resulting in a significant reduction of the proposed penalty from nearly $500,000 to less than $2,000.
For those unfamiliar with the term, an ESRP proposal is a formal notice from the IRS to employers who are subject to the Affordable Care Act's employer mandate. The notice outlines any potential penalties for failing to provide affordable health insurance coverage to eligible employees.
Navigating complex tax regulations such as the Affordable Care Act can be daunting for businesses. At Lee Schwalb, we recognize the importance of providing effective solutions to our clients' tax issues. Our team worked diligently to gather and analyze all relevant data and develop a strategic plan to contest the proposed penalty.
We're proud of our team's dedication and commitment to securing the best outcome for our clients. If you're facing tax issues or need help navigating complex tax regulations, we invite you to contact us. We would be honored to assist you in achieving your financial goals.