The blog that NOBODY reads... but everyone gets upset about.
Exposing the dark underside of the political world of Clark County, Washington... The least read and most talked about blog around.
Wednesday, February 15, 2017
IRS dictate: no requirement to answer Obamacare question on tax returns.
I'm covered by the VA so I'm exempted from this, even though I'm shifting to non-governmental health care... but in case you were wondering, the era of fines for failing to have Obamacare coverage appears to be over.
How much difference does a single line on a tax form make? For Obamacare's individual mandate, the answer might be quite a lot.
Following President Donald Trump's executive order instructing
agencies to provide relief from the health law, the Internal Revenue
Service appears to be taking a more lax approach to the coverage
The health law's individual mandate requires everyone to either
maintain qualifying health coverage or pay a tax penalty, known as a
"shared responsibility payment." The IRS was set to require filers to
indicate whether they had maintained coverage in 2016 or paid the
penalty by filling out line 61 on their form 1040s. Alternatively, they could claim exemption from the mandate by filing a form 8965.
For most filers, filling out line 61 would be mandatory. The IRS
would not accept 1040s unless the coverage box was checked, or the
shared responsibility payment noted, or the exemption form included.
Otherwise they would be labeled "silent returns" and rejected.
Instead, however, filling out that line will be optional.