Aca irs no answer required on ins coverage

[claud46]

The post has been closed & deleted

[taxea]

You might want to google the NATP article on this issue. I received it today via email to members.

[TAXNJ]

You might want to google the NATP article on this issue. I received it today via email to members.

Whether you google the article or not, the Executive Order does not waive the "Taxpayer" responsibility from following the existing law.

[FEDUKE404]

Additional reading re ACA

Offending IRS link has now been deleted due to insightful knowledge of claud46.

You might want to read this also:

https://www.irs.gov/

EXCERPT: ". . .legislative provisions of the ACA law are still in force until changed by the Congress, and taxpayers remain required to follow the law and pay what they may owe."

FE

[Burke]

This will shut off the ACA penalty calculation, Form 1040, Line 61 Will BE Zero.
and leave the health coverage checkbox blank on Form 1040/1040-A/1040-EZ.

Question? If taxpayer states does not answer the healthcare coverage question
How can they go ahead and input forms 1095-A, B or C indicating their coverage?

That is not happening in my software. The only thing which was changed is that you can now e-file when the healthcare question is left blank. I am looking at one right now where box is not checked and penalty is being calculated on Line 61 for failure to have coverage. As well as PTC payback which was paid for 3 months.

[Burke]

Well, I will wait and see if software updates further. LaCerte's message confirms that the law has not changed, and until that happens, I take issue with their "shutting off" calculation of the penalty for failure to have coverage. Software HAS updated to not require box to be checked. But that is all at this time.

[Twin Turbo Z]

Good Grief !! Charlie Brown

[RitaB]

I can't even

I'm just here to read the comments.

[admin]

Please watch the tone of your comments on our Message Board

Everybody This IS The TAXBOOK
Login into The TaxBook Update Service
Read the 2nd 2-21-17 update
"Health Coverage Status NO Longer Required to be Reported on F1040"

Burke, IF you don't have to answer the question, there can BE NO calculated amount on line 61

If anyone here does NOT subscribe to this OR similar Services
HOW CAN YOU RESPONSIBILY SERVE YOUR CLIENTS?

if I knew how to link article here I would have
If someone can show me I would appreciate
I NEVER post without PRODUCING the factual documents
the SUPPORT my comments, I have NO "Unsupported" Opinions
THAT IS FAKE NEWS

Claud46 please ensure you are treating everyone with respect on our Message Board. Your participation is appreciated and your feedback is valued but there is no need to be calling out other members of the community in your posts. This message board is a great source for the type of information you note and that is why many are here.

[unzuetay]

Tldr:

Executive order to not require Health Ins question on 1040
Legislative is looking it over
Either file an extension or be prepared to amend tax return.

Thanks.

[Twin Turbo Z]

I really don't need the time spent educating those here who can't do their on research
I'm only talking of the FEW that said I WAS WRONG

The IRS Announcement STATES that a Taxpayer does NOT have to answer IF they HAD or did NOT have Insurance
THUS, logic as all software providers (and TaxBook Comment on 2-21-17 Update) have recognized
IF YOU DON'T ANSWER, NO I DID NOT, THEN NO PENALTY CALCULATION CAN BE MADE, LINE 61 = ZERO

I even explained the WHY the IRS did this, 2-28-17 in my post to Burke

WHO else has spent the professional, respectful total time I have, NO ONE!

THEY would have their clients PAY the penalty RIGHT NOW out of ignorance
Ignorance is not being disrespectful, it is stating a FACT, they do not subscribe to
or if they do, do not read DAILY CHANGES IN TAX ADMINISTRATION, that is obvious
form being ax the TAXBOOK Message Board and don't KNOW what the TaxBook Update service stated


And spread that thought to others here, to prepare a malpractice tax return

Just answer "Yes" they had insurance all year and your penalty will go away !!! That simple. Well unless your software doesnt have a "Had Insurance All Year" button. If thats the case "Over-ride It". Software issue fixed !! And when the IRS sends a CP2000 wanting a copy of their 1095 for verification, well.... cross that bridge when you get there, if that bridge appears.

[Rapid Robert]

Please, close and delete the entire topic

No, that's not the way it works. But if you wait another six years before making your next post, most everyone will have forgotten it by then.

[Burke]

Just answer "Yes" they had insurance all year and your penalty will go away !!! That simple. Well unless your software doesnt have a "Had Insurance All Year" button. If thats the case "Over-ride It". Software issue fixed !! And when the IRS sends a CP2000 wanting a copy of their 1095 for verification, well.... cross that bridge when you get there, if that bridge appears.

You are correct in that it will go away, but do you really want to do that if it is not true? I would think Cir 230 might have a problem with it.

[Twin Turbo Z]

You are correct in that it will go away, but do you really want to do that if it is not true? I would think Cir 230 might have a problem with it.

OMG !! Thats the original posts whole complaint. That your software is imposing a penalty when its due !!! My clients are paying the penalty. If the IRS reverses the 2016 penalty (retroactive) then I will amend the ones effected. Plain and simple.

[Burke]

Me too. That is what I am doing. I only have one so far, and that person owes anyway without it. I will amend for no charge if that happens. I interpreted your post to recommend checking the box to eliminate the penalty when the TP did not have insurance all year.