Late Crazy Tax Clients

[Carolbeck]

I just spent over 6 hours on a new clients return that now owe $1,350 due to excess APTC. As they actually purchased a "Gold" plan and therefore should have not even qualified for the APTC (Has to be a Silver plan) to receive.  Supposedly their "Navigator" from local county office setup everything for them on the exchange. Estimated half of their income and allowed them to take almost 2X the APTC. 1095-A is correct. A couple with no kids making $43k per year - wife does not work.  Of course I am the messenger, so of course it is MY fault. Client wants to get a "second Opinion".  

 

Please come and get your tax documents so that you can get your "2nd opinion".  And please stop calling every 15 minutes with another question about the same thing I told you during the last conversation regarding this. I have not been able to work on any other return today because of this!

 

Sorry to Vent, the crazy late clients are coming out of the wood work! Then the few I have not heard from decide to drop off at the last minute at the same time! And on a Sunday late afternoon.  Of course I have no Family or a life..

[jklcpa]

 

...for the APTC (Has to be a Silver plan) to receive.

 

 

While your client's numbers may work out that they are not eligible for the PTC for other reasons, the above statement is incorrect.  "Qualified Health Plans" that are purchased through the exchange that are at the bronze, silver, gold, and platinum levels are all plans that will potentially allow the taxpayer to take the APTC or the PTC if they meet the other requirements.  The plans that aren't eligible are those on the exchanges that are catastrophic major medical plans only, plans purchased through SHOP, or purchased directly with the insurance company.

[Carolbeck]

While your client's numbers may work out that they are not eligible for the PTC for other reasons, the above statement is incorrect.  "Qualified Health Plans" that are purchased through the exchange that are at the bronze, silver, gold, and platinum levels are all plans that will potentially allow the taxpayer to take the APTC or the PTC if they meet the other requirements.  The plans that aren't eligible are those on the exchanges that are catastrophic major medical plans only, plans purchased through SHOP, or purchased directly with the insurance company.

Yes that is true in other states, but for NY:

 

Additional Benefits for the APTC Premium Payment Program

• To use the benefits of the APTC Premium Payment Program and potentially reduce your premium to $0, you must be eligible and select a Silver Level health plan and use the

entire amount of your tax credit. You will still be responsible to pay any cost sharing, like co-pays for doctor’s visits or prescriptions. Your maximum out-of-pocket costs may

change if you do not select a Silver Level health plan.

[rfassett]

I feel you Carolbeck.  We have decided here to eliminate the last two weeks of tax season. 

 

My extension list keeps getting longer and longer.

[Jack from Ohio]

I just spent over 6 hours on a new clients return that now owe $1,350 due to excess APTC. As they actually purchased a "Gold" plan and therefore should have not even qualified for the APTC (Has to be a Silver plan) to receive.  Supposedly their "Navigator" from local county office setup everything for them on the exchange. Estimated half of their income and allowed them to take almost 2X the APTC. 1095-A is correct. A couple with no kids making $43k per year - wife does not work.  Of course I am the messenger, so of course it is MY fault. Client wants to get a "second Opinion".  

 

Please come and get your tax documents so that you can get your "2nd opinion".  And please stop calling every 15 minutes with another question about the same thing I told you during the last conversation regarding this. I have not been able to work on any other return today because of this!

 

Sorry to Vent, the crazy late clients are coming out of the wood work! Then the few I have not heard from decide to drop off at the last minute at the same time! And on a Sunday late afternoon.  Of course I have no Family or a life..

I refuse to get involved in the discussions about which plan or which company they choose to purchase their health insurance.  Those decisions are NOT a tax matter.  I am only handling the "shoved down our throats" responsibility of telling them the tax consequences of their choices.  Otherwise, another client to fire.

[Richcpaman]

Carol:

 

I feel for you...

 

Got stuck in the loop with a client like that last night.  Single, Sub-contractor.  $21k gross, $11k net.  Bought a plan thru the marketplace, had a 1095-A.  But when you add the 8962 or 8965 forms, it gets stuck in a loop.

 

Screw it, he was covered and his income was lower than the limits...

 

Rich

[MsTabbyKats]

When I started doing tax returns...in someone's office...his motto was (towards the clients).."Your problem is not my problem"...and that's how we worked.  I still refuse to get "out of shape" because someone waits till the final few days with complications.