Health Care Law Tax Reminder

by Deborah Z Mark

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tax money

It’s the most wonderful time of the year!

Not exactly.

It’s tax time.

Yippee.

The IRS wants to remind you that you and each member of your family are now required by law to have qualifying health insurance, a health coverage exemption, or make a payment when you file your tax return.

Did you have health insurance coverage all year?

If you had health insurance coverage all year, just check the appropriate box on your tax return.  No further action required.

If you purchased coverage through the Marketplace, you may be eligible for the premium tax credit. You will receive a Form 1095-A, which provides information about your coverage.

This is the first year you will report health coverage on your tax return.

The IRS offers free electronic filing for federal tax returns. The online service guides users through the process and does all the calculations.

State returns are not included.

I’m guessing aspirin isn’t, either.

Better stock up on that before you get started.

We don’t provide aspirin, but managestaff can relieve your headaches by helping your business run more smoothly. Just give us a call.

managestaff.

It’s what we do.

image: ddpavumba/freedigitalphotos.net