ILLMAS Posted February 9, 2016 Report Posted February 9, 2016 I posted the following question in another group and want to see what you think about it? ACA: If a TP makes no attempt to get health insurance and you tell them they owe a penalty, they get upset and walk out. Then they go to the next preparer and say, I didn't get health insurance because I could not afford it, so I should be exempt from having health insurance. Is it really that easy to get away without having health insurance? FYI: Form 8965, Part III you can elect "A" Unffordable Coverage Quote
jklcpa Posted February 10, 2016 Report Posted February 10, 2016 4 hours ago, ILLMAS said: ...they owe a penalty, they get upset and walk out. Then they go to the next preparer and say, I didn't get health insurance because I could not afford it Is it really that easy to get away without having health insurance? Well, there are those pesky affordability worksheets that must be filled out that are in the Form 8965 instructions. If the person doesn't meet the criteria for unaffordability or one of the other exemptions, then the SRP (the penalty) is assessed. 2 Quote
Pacun Posted February 10, 2016 Report Posted February 10, 2016 If the taxpayer qualifies for the unaffordable exception, they don't any effort on their part. The unaffordability is calculated at the end of the year when they have all income together. During the year, they only have a crystal ball. 2 Quote
Terry D EA Posted February 11, 2016 Report Posted February 11, 2016 On 2/9/2016 at 6:53 PM, ILLMAS said: I posted the following question in another group and want to see what you think about it? ACA: If a TP makes no attempt to get health insurance and you tell them they owe a penalty, they get upset and walk out. Then they go to the next preparer and say, I didn't get health insurance because I could not afford it, so I should be exempt from having health insurance. Is it really that easy to get away without having health insurance? FYI: Form 8965, Part III you can elect "A" Unffordable Coverage Well it is not quite that easy. You still have to do the calculations based on the bronze level plan and see if it exceeds 8.05% of their income and if so, then not affordable. don't forget there is the filing threshold that comes into play to determine poverty level and affordability. I would do the worksheet to cover myself and just not take their word for it and check the box. 2 Quote
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