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How To Calculate My Health Care Penalty If I Do Not Have Any Health Insurance Last Year
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

This link will take you to a worksheet that will allow you to calculate the penalty. http://obamacarefee.com/2015-calculator/. Note, however, that there are numerous exceptions that may allow you to avoid any...   Read More
0 0 Obamacare
What Kind Of Penalty Will I Pay For Not Having Obamacare? Is It Illegal Not To Have Obamacare?
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

It is illegal to not have qualifying health care coverage. If you don't have coverage, you will pay a penalty, unless you meet an exception. For 2015, the penalty for not having coverage is $325 per adult and $162....   Read More
0 0 Obamacare
I Have A Business With 30 Employees And Am Trying To Understand What Will Happen If I Do Not Get Them Health Insurance. What Are The Rules...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

With fewer than 50 full time equivalent employees you are not required under Obamacare to provide health insurance for your employees.   Read More
I Have A Business With 30 Employees And Am Trying To Understand What Will Happen If I Do Not Get Them Health Insurance. What Are The Rules...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Nothing will happen. With fewer than 50 full time equivalent employees you are not required under Obamacare to provide health insurance for your employees.   Read More
I Had Obma Care Last Year. (gov. Payed) I Am Self Employed. I Est. Income At 12000.00, Only Made 1000.00 After All My Deductions. What Do...
User Photo Caran Ebert, CPA
Tax Professional Level: Tax Enthusiast

If you signed up under your state exchange, you were required to provide a copy of your tax return to the exchange from the previous year. The exchange basically uses your AGI to determine your eligibility. AGI...   Read More
0 0 Obamacare
Should My Dependents' Social Security Income Be Reported On My Form 8962?
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Yes, you should have included their modified adjusted gross income (MAGI), including any social security benefits, on line 2b. Line 2a is for your MAGI, which would include any non-taxable social security that you...   Read More
How To Address Your Income When On ACA For 3 Mo Due To Unemployment And Estimated Based On YTD, But Dropped ACA Once Employed?
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

Unfortunately at this point the IRS and the Marketplace people you spoke with are correct. They, nor most tax pros have been given any direction in situations like yours. The IRS just last week released Pub 974...   Read More
Having Both Foreign And Domestic Income As An American Expat Living Abroad And Obamacare.
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

If you are a US citizen or resident alien abroad and you meet the bona fide resident test or the physical presence test, you are considered to have essential minimum coverage under the Act and will not be required...   Read More
From A Tax Compliance Perspective, Has The IRS Issued The New Tax Forms Yet To Claim The “Premium Tax Credit” Against Obamacare...
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

The Service recently issued a draft version of the new Form 8962 entitled “Premium Tax Credit” which taxpayers will utilize to claim the premium tax credit and file with their income tax returns. The Service...   Read More


Meet Leading Tax Advisors

User Photo Kathryn Morgan

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User Photo NEERAJ BHATIA, CPA

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User Photo Bill Robinson, CPA

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CPA

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Owner

User Photo James Sutton, CPA, Esq

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Florida Sales Tax Attorney

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Tax Preparer / Notary / Signing Agent

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Los Angeles, California, USA

singer

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