Tag: insurance tax penalty

Health insurance disclosure is required on tax returns to avoid I.R.S. rejection

G. Turner
health insurance disclosure tax penalty

The Internal Revenue Service announced its intentions to step up the enforcement of the ACA tax penalty. Even as President Trump works to dismantle the Affordable Care Act, the I.R.S. has taken steps to enforce health insurance disclosure on tax filings. The Internal Revenue Service revealed new regulations that will automatically reject digital filings in which insured status is not revealed. This latest announcement reveals an intention to strengthen components of former President Obama’s health care law. The Affordable Care Act already requires health insurance disclosure when taxes are filed.…

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Health insurance must be purchased by Californians by today

Julie Campbell
California health insurance

The residents of that state will need to buy their coverage or they will face a tax penalty for the full year. Californians who haven’t yet purchased their health insurance plan under the Affordable Care Act have until the end of the day, today, to obtain their coverage and stop themselves from facing a tax penalty for the whole year. The second, extended enrollment period for the health care reform is now coming to an official close. Technically speaking, the health insurance enrollment period was supposed to have come to…

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