May 7, 2014
Individuals who do not have health insurance for at least nine months in 2014 will owe an additional tax (penalty) when they file their 2014 federal income tax return unless they qualify for an exemption.
The following scenarios may qualify an individual for an exemption:
If an individual does not qualify for one of the above exemptions they may qualify for a hardship exemption. Some of the hardship exemptions an individual may qualify for are:
The type of exemption an individual is eligible for can determine how they obtain the exemption. Some exemptions may be obtained only through the Marketplace (Exchange), others only from the IRS, and yet others from either the Exchange or the IRS.
For a list of where and how various exemptions can be obtained, see the ACA - Exemptions page on the IRS website.
For a more complete list of exemptions that can be obtained through an Exchange, see How Can I Qualify for an Exemption? on healthcare.gov.
Important Reminders for the Upcoming 2019 Filing Season
November 28, 2018
2018 Changes to Form 8867 (Preparer Due Diligence Checklist)
November 9, 2018
2018 Depreciation Changes
October 18, 2018
2018 Tax Law Changes that are Directly Reported on Form 1040
October 3, 2018
IRS Tax Transcripts Changes
September 27, 2018
Revised 2018 Schedule A due to Tax Cuts and Jobs Act Changes to Itemized Deductions
August 29, 2018