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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.
Most medical devices become subject to a 2.3% excise tax collected at the time of purchase. (The ACA provided for a 2.6% tax, but this was reduced to 2.3% by the Reconciliation Act). [67] This tax will also apply to some medical devices, such as examination gloves and catheters, that are used in veterinary medicine. [68]
Stopping a "train wreck." Caving in to "anarchists." Trying to "extort a president." Those were the views of House Speaker John Boehner (R-Ohio), Senate Majority Leader Harry Reid (D-Nev.), and ...
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 ...
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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.
For premium support please call: 800-290-4726 more ways to reach us