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Jan272015
Comments Off on Here’s How Obamacare Is Going To Affect Your Taxes
Here’s How Obamacare Is Going To Affect Your Taxes

Here’s How Obamacare Is Going To Affect Your Taxes

  • Posted by Helena Ruffin

So we all made it through our first year together under the new Obamacare mandate. Some of us saw relief on rates some of us didn’t. For the most part, from where I sit, it truly has been for the better. Many of you have…

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May152013
Comments Off on In 2014 when it becomes the law that everyone be insured, what will the individual (not the employer) penalty be for having no coverage and how will it be enforced?
In 2014 when it becomes the law that everyone be insured, what will the individual (not the employer) penalty be for having no coverage and how will it be enforced?

In 2014 when it becomes the law that everyone be insured, what will the individual (not the employer) penalty be for having no coverage and how will it be enforced?

  • Posted by Helena Ruffin

As we understand the rules, payment for penalties must be included with applicable individuals’ federal income tax returns for the taxable years during which penalties apply. Applicable individuals are responsible for penalty payments owed by their dependents too (I.R.C. § 5000A(b)). Annual penalties for applicable…

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