That sounds like an excuse for the IRS to help itself to $500K from Walmart, McDonalds, Wendy’s, and every other large retail company in the country.
Please read the details....it’s not just the big outfits...the penalty applies to the smallest outfits, the only exclusion is for outfits with just ONE employee. If you have 2 employees, you will pay $73,000 penalty every year.