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For the tax year 2014 only Form 1095-A provided by a healthcare exchange is required by the IRS. Individuals who were not insured during the tax year are required to make a payment when filing their tax return, unless they qualify for a tax exemption. An exemption certificate number is required in some cases for obtaining an exemption on a tax ...
If individuals have a gross income below the tax return filing threshold for a certain year, they are automatically exempt from the shared responsibility provision for that year. [13] Most exemptions are claimed using Form 8965, Health Coverage Exemptions [14], when a tax return is filed.
Those who aren't covered will be assessed the penalty on their Federal tax return. In the wording of the law, a taxpayer who fails to pay the penalty "shall not be subject to any criminal prosecution or penalty" and cannot have liens or levies placed on their property, but the IRS will be able to withhold future tax refunds from them. [87 ...
The Patient Protection and Affordable Care Act, better known as Obamacare, includes a number of new taxes and fees for individuals and businesses throughout the country. As 2014 begins, you should ...
The state's Division of Insurance said Monday that Anthem would pull out of the state's 2018 individual insurance exchanges under the Affordable Care Act.
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The eligibility criteria for the premium tax credit is determined by section 1401 of the Affordable Care Act (Obamacare). The Act was signed into law on March 23, 2010, and specified that the credits are only available to individuals and families who have enrolled in a health plan offered on a healthcare exchange.
When the program launched more than 50 years ago, just over half the states signed up in the first two years. The last state to join, Arizona, didn’t begin participating until 1982. But repealing the Affordable Care Act would eliminate the federal funding that mostly finances the Medicaid expansion.
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