Affordable Care Act Reminders
If you enrolled in coverage through the Health Insurance Marketplace during 2015, you may have received financial help with the premiums through advanced payments of the premium tax credit. If so, you must have Form 1095-A before you can file your tax return. This form should be sent by the Marketplace Provider. The information is used to complete Form 8962, which reconciles the amount of the credit with the taxpayer's actual earnings.
Tax Scams
Last year, several of my clients were contacted by unscrupulous people demanding payment for taxes which they did not owe. It is important to note that the IRS does not contact taxpayers via email to request information. Also, they do not contact taxpayers by phone and ask for immediate payment via credit or debit cards, nor do they threaten taxpayers with jail sentences if the money isn't paid right away. I always advise my clients that they should not relay any personal information such as Social Security numbers, birth dates, banking information, etc. to any person whom they do not know!
If you enrolled in coverage through the Health Insurance Marketplace during 2015, you may have received financial help with the premiums through advanced payments of the premium tax credit. If so, you must have Form 1095-A before you can file your tax return. This form should be sent by the Marketplace Provider. The information is used to complete Form 8962, which reconciles the amount of the credit with the taxpayer's actual earnings.
Tax Scams
Last year, several of my clients were contacted by unscrupulous people demanding payment for taxes which they did not owe. It is important to note that the IRS does not contact taxpayers via email to request information. Also, they do not contact taxpayers by phone and ask for immediate payment via credit or debit cards, nor do they threaten taxpayers with jail sentences if the money isn't paid right away. I always advise my clients that they should not relay any personal information such as Social Security numbers, birth dates, banking information, etc. to any person whom they do not know!