The Affordable Care Act - also known as
Obamacare Obamacare affects you in that it
requires everyone on your tax return to have insurance or a valid
exception.
How does it affect your personal income tax returns?
There are 3
major situations. Which situation
below applies to you? IMPORTANT: If we are preparing your tax returns and you don't let us know
which situation below applies to you we will assume you have health insurance
covering you and your family and that it meets the ACA requirements and we will
check the "YES" box on the tax return accordingly (no penalty).
If we are preparing your personal income tax returns, please print this page, circle one of the 3 situations below and return this to us with your organizer.
#1 –(no penalty
situation) YOU ENROLLED IN A HEALTH PLAN THROUGH YOUR EMPLOYER, PRIVATE INSURANCE,
MEDICARE OR MEDICAID (no penalty) WHAT WE NEED FROM YOU
In addition to any usual documentation you provide to us regarding your medical
expenses, we need form 1095-C or 1099-B if you received it from your employer
or private insurer. #2 –(no penalty
situation) YOU PURCHASED A HEALTH PLAN THROUGH A HEALTH INSURANCE MARKETPLACE (no
penalty) WHAT WE NEED FROM YOU
In addition to any usual documentation you provide to us regarding your medical
expenses, we need form 1095-A. #3 –(possible penalty situation) YOU DON'T HAVE INSURANCE (possible penalty situation) WHAT WE NEED FROM YOU
In addition to any usual documentation you provide to us regarding your medical
expenses, you will also need to provide us with the exemption certificate
number here ______________.
If you don't have insurance and don't qualify for an exemption, let us know and
we will prepare the penalty for not being covered.