Be Prepared for New Forms and More Questions this Tax Season!

Tax season has begun anew! ACA/ObamaCare’s Individual Mandate took effect Jan 2014. Be prepared to answer more questions from your tax preparer. Don’t worry, he (or she) isn’t just being nosey, these questions are part of tax preparer “due diligence”. In other words, if your tax preparer doesn’t ask these questions, he or she can get in trouble from the IRS. On the other hand, if you do receive a Form 1095(A, B or C), all of those questions may not be necessary because this form tells what health insurance you had during the year (or at least it’s supposed to!). The problem is, most people won’t get this form because not all business are required to issue it, yet. Along with this new requirement, be prepared to pay more accordingly.

Advertisements
This entry was posted in ACA, General Interest, Income taxes, Obamacare, Taxes, Website and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s