Charging fee to help compete Obamacare form

[AZ-Tax]

5th paragraph down

"Although the new forms may be shorter, it's unclear whether the administration can get rid of all the complexity. That's because applicants will have to provide detailed snapshots of their incomes to see whether they qualify for government assistance. Individuals will have to gather tax returns, pay stubs and other financial records before filling out the application."

What are the chances that your clients/applicants will contact you about help in completing their app? And when they do, will you charge them for your time?

http://news.yahoo.com/obama-administration-simplifies-health-care-form-085104313.html

[taxmandan]

Many of our clients will need us to help fill out these forms since most of the information will come from tax returns & income forms. (Think FASFA only more difficult) Smart tax software companies are already creating programs for us that will export from our clients tax return to the Obamacare forms. Much like K-1s export to 1040s from the entity return.


>And when they do, will you charge them for your time?

YES! another revenue stream for tax pros!

[Nashville]

I'm bailing out

The extent of my assistance would be providing information from specific 1040 line items if the applications deem necessary. Much like the student aid forms.

I might be biased because I think Obamacare stinks, but for business reasons I don't want to be associated with the fallout. I believe the applications will try to put their arms around a moving target as I suspect forthcoming patchwork legislation to try to band-aid this economic hemorrage as it becomes clear that virtually no health system problems are being solved and instead more are created.

I also believe the fallout will occur because federal employees will be faced with the overwhelming task of processing these applications, many of which are improperly filled out.

This may be a welcomed source of revenue in the off-season for us, but I foresee it as a Trojan Horse with which we will not want to be associated.

[DaveO]

During an interview with one of my clients who is in the health care field I mentioned the new role being thrust upon us with Obamacare. He said to be very careful in recommending or assisting in any part of this since we would be open to liability if the client was unhappy with their insurance. I intend to educate myself on the forms and such but don’t know about offering any help there. I don’t help with FASFA forms other then telling them which line number has their AGI and what their filing status is.

[AZ-Tax]

Diddo w/Clients investments

During an interview with one of my clients who is in the health care field I mentioned the new role being thrust upon us with Obamacare. He said to be very careful in recommending or assisting in any part of this since we would be open to liability if the client was unhappy with their insurance. I intend to educate myself on the forms and such but don’t know about offering any help there. I don’t help with FASFA forms other then telling them which line number has their AGI and what their filing status is.

Seems to me you have the same open liability if you are not a Licensed Securities Rep and you use your 1st Amendment right to your opinion and/or comment regarding one or more of your clients investments. They change investments based on your opinion and/or comment and loose their investment. I cannot remember but I believe the health insurance products in part being created by the ACA, will be in part sold by Licensed Health Insurance Agents. An additional revenue stream for us Licensed Health Insurance Agents. Chances are current License Health Agents will envy you.