Disruptive workforce engagement platform provider ShiftPixy has recently been one of the thousands of businesses to receive a penalty notice from the IRS after failing to comply with healthcare standards set by the Affordable Care Act in the 2015 reporting year. The Act states that large employers (those employing more than fifty individuals) must provide "adequate healthcare insurance" that is both "affordable" and reaches a "minimum value".
ShiftPixy, with its roots in staffing compliance, protects its clients from such unwelcome violation notices and multiple other compliance burdens, something that large, well-known competitors fail to do. Unlike others, ShiftPixy embraces the employer status of the workforce, offering employment-related benefits and protections, all while handling administrative and compliance burdens for the operators.
"The onslaught of violation notices is an outright disaster for thousands of American businesses that could be forced to shut their doors if unable to afford these sizable fines," stated Scott Absher, Co-Founder, and CEO of ShiftPixy. "If they believe they can secure a bank loan to cover the fine, they can think again as most banks won't touch a prospective borrower facing an IRS penalty."
ShiftPixy's innovative employment model with its sophisticated technology platform and compliance orientation represents the perfect solution for employers operating in the Gig Economy. Using sophisticated technology, ShiftPixy efficiently matches employers with the qualified workers they need, all while providing compliance peace of mind for the employers entering the ShiftPixy ecosystem.
Absher continued, "As evidenced by our surging demand and rapid growth, we're again proving that our solution is the gold standard for employers looking to succeed and remain compliant in the Gig Economy. We suspect these IRS letters hitting mailboxes by the thousands will only drive more employers to realize the value of a partnership with ShiftPixy."
ShiftPixy further notes that the IRS is already laying the groundwork to issue further violation letters pertaining to the 2016 reporting year.
Edited by K. Fanning
Join us in Madrid from the 13th to the 16th of November for the Property Portal Watch Conference.