Alike large companies, small businesses have to be compliant with required forms and other necessary documentation. It’s important for a small business owner to understand the significance of accuracy and timely submittal of these forms. This article points out the importance of the I-9 form and the burden it places on small business owners; there is a possible penalty of up to $2,126 per form if filled out incorrectly. The 1095-B and 1095-C are also important forms that have reporting requirements. The article goes on to explain possible ways to reduce this burdensome paperwork.
Click here to know how to avoid this.