Rev. Proc. 2023-17: Indexing adjustments for amounts used to calculate employer shared responsibility payments
Employer shared responsibility payments under section 4980H(c)(1) and (b)(1)
Indexing adjustments for amounts used to calculate employer shared responsibility payments
The IRS today released an advance version of Rev. Proc. 2023-17 to provide indexing adjustments for the applicable dollar amounts used to calculate the employer shared responsibility payments under section 4980H(c)(1) and (b)(1).
Rev. Proc. 2023-17 [PDF 82 KB] provides that the applicable premium adjustment percentage is 1.4899877401.
For calendar year 2024:
- The adjusted $2,000 amount under section 4980H(c)(1) is $2,970
- The adjusted $3,000 amount under section 4980H(b)(1) is $4,460
The revenue procedure is effective for tax years and plan years beginning after December 31, 2023.
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