IRS TO REJECT RETURNS WITH NO HEALTH

 

SORRY MR PRESIDENT! Oba­ma care is still in full affect and the IRS is mak­ing sure that every­one remem­bers. This will be the first year your tax return can reject if no proof of health care acknowl­edge on your tax return. Yes i mean elec­tron­i­cal­ly, so be on the look out for your med­ical forms 1095a if your get one. You don’t want to have your return nor refund delayed due to health care. If you don’t have any you will still be sub­ject to the penal­ty

  • For tax year 2017, the penalty is 2.5% of your total household adjusted gross income, or $695 per adult and $347.50 per child, up to a maximum of $2,085. That is a lot if you are expecting a refund of 2000 bucks there it goes to penalty y.

If you think you can get a exemp­tion make sure you apply for one so you wont be charged. List­ed below are some exemp­tions that may apply to you and your sit­u­a­tion.

  • The most afford­able cov­er­age costs more than 8.13% of your house­hold income
  • You were unin­sured for less than three con­sec­u­tive months of the year
  • You are exempt from fil­ing a tax return because your income is too low
  • You are Native Amer­i­can or eli­gi­ble for health ser­vices through an Indi­an Health Ser­vices provider
  • Your reli­gion objects to the use of insur­ance
  • You’re in prison
  • You belong to a health care shar­ing min­istry
  • You have been abroad for more than one year
  • You qual­i­fy for a hard­ship exemp­tion due to an issue such as home­less­ness, bank­rupt­cy, evic­tion or sim­i­lar­ly try­ing cir­cum­stances