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    Post was removed

    A couple days ago, a discussion referring to "Repeal and Replace Obamacare" was removed. The thread had at least a couple remarks embellishing and/or bashing the President and had taken on the aura of partisan political rhetoric. This is against the policy of the TTB message board.

    When removed, all the posts in the discussion thread are removed with it. One of the things I wanted to keep was the purported announcement by the IRS that brought relief to the ACA penalties. I haven't heard any corroboration by the news that the IRS made such an announcement, but if they really did, I would like to see the announcement again.

    Would anyone aware of the announcement please post it again? This time leave the partisan politics out of it. These massive tax actions are impossible to separate from congressional action, but it's not necessary that we get into a partisan war of words.

    #2
    Aca post-executive order

    "ACA Information Center for Tax Professionals

    Keep up-to-date on the latest ACA news by visiting our What’s Trending page.

    ACA Executive Order and Current Tax Filing Season

    The IRS is currently reviewing the Jan. 20, 2017, executive order to determine the implications. Taxpayers should continue to file their tax returns as they normally would.

    The instruction for individual taxpayers involving the Affordable Care Act has been to indicate on their Form 1040 filing whether they had health insurance, an exemption from coverage or made a shared responsibility payment. In recent years, tax returns silent in that regard were still processed. This year, the IRS put in place system changes that would reject tax returns during processing in instances where the taxpayer didn’t provide that information.
    The recent executive order directed federal agencies to exercise authority and discretion available to them to reduce potential burden.‎ Consistent with that, the IRS has decided to make changes that would continue to allow electronic and paper returns to be accepted for processing in instances where a taxpayer doesn’t indicate their coverage status.

    However, 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.
    Processing silent returns means that taxpayer returns are not systemically rejected by the IRS at the time of filing, allowing the returns to be processed and minimizing burden on taxpayers, including those expecting a refund. When the IRS has questions about a tax return, taxpayers may receive follow-up questions and correspondence at a future date, after the filing process is completed. This is similar to how we handled this in previous years, and this reflects the normal IRS post-filing compliance procedures that we follow."

    TTB update has on item posted 2-21-17 regarding this.

    At no time have I yet seen any IRS or another announcement/notice/ruling/procedure/whatever that the shared responsibility payments for 2017 (if any) would be or will be waived.
    Friends double; family triple. Don't buy an audit for yourself. If someone has to go to jail make sure it is the client. Remember it is only taxes, nothing important.

    Comment


      #3
      Leaning to this

      Thanks taxguy. I have been leaning toward the treatment outlined in your post, and have not jumped on anyone's bandwagon to suddenly stop disclosing ACA-required information.

      Snag

      Comment


        #4
        ACA POST-EXECUTIVE ORDER -Non disclosure

        We have had more than a few taxpayers decline to answer the "health insurance all year" question. We added a "not our fault" line to our questionnaire on health insurance coverage.

        In four of the 'situations' the taxpayers had marketplace coverage with subsidies during the year.

        Had we done the 8962, two or three of them would have had additional refunds.

        On the other side of this one of our more vocal ACA opponent clients rushed out to the marketplace in August following his cancer diagnosis resulting in the evaporation of his previously claimed religious objections.
        Friends double; family triple. Don't buy an audit for yourself. If someone has to go to jail make sure it is the client. Remember it is only taxes, nothing important.

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