NEW ON IRS.GOV

[Lee B]

New instructions and publications on IRS.gov

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Instructions:

• Inst 2210, Instructions for Form 2210, Underpayment of Estimated Tax by Individuals, Estates and Trusts

Publications:

• Pub 505, Tax Withholding and Estimated Tax
• Pub 5303, Paycheck Checkup
• Pub 5303 (SP), Paycheck Checkup (Spanish Version)

Edited April 25, 2019 by jklcpa
removed one Pub and its link

[Christian]

Someone correct me if I am wrong please. The individual mandate under the ACA is abolished and the shared responsibility payment (penalty tax) as well beginning with TY 2019. 

[Lee B]

Judy, could you take down my post.

The IRS link for Pub 5187 takes you to the 2018 version, which talks about the SRP requirements, which no longer is in effect as of January 1st 2019.

 

[jklcpa]

1 hour ago, Christian said:

Someone correct me if I am wrong please. The individual mandate under the ACA is abolished and the shared responsibility payment (penalty tax) as well beginning with TY 2019. 

 

53 minutes ago, cbslee said:

Judy, could you take down my post.

The IRS link for Pub 5187 takes you to the 2018 version, which talks about the SRP requirements, which no longer is in effect as of January 1st 2019.

 

 

I removed the link and mention of Pub 5187 and left the rest of the post intact. 

[Abby Normal]

The individual mandate still exists BUT the penalty is set to zero for 2019, so there's no penalty for not having minimum coverage.

[Jack from Ohio]

23 hours ago, Abby Normal said:

The individual mandate still exists BUT the penalty is set to zero for 2019, so there's no penalty for not having minimum coverage.

CORRECT

[Christian]

With no financial penalty what are they going to do wag their finger ?

[Abby Normal]

16 hours ago, Christian said:

With no financial penalty what are they going to do wag their finger ?

I heard it was going to be clicking their tongue while moving their head slowly from side to side, followed by a sigh.