Tag Archive for 2015 tax year

Qualify For Affordable Care Act Exemptions – 2015 Tax Year

TaxConnections Member Milton Boothe

Under the Affordable Care Act, the law requires you and each member of your family to have qualifying health insurance, called minimum essential coverage, otherwise you will be subject to a penalty when you file your federal income tax return.

It is important to note that you may be exempt from the requirement to maintain minimum essential coverage, if certain conditions are met, and thus will NOT have to make a shared responsibility payment (penalty) when you file your federal income tax return.

You can obtain some exemptions only from the marketplace, others only from the IRS, and yet others from either the Marketplace or the IRS.

You can obtain Affordable Care Act exemptions under the ACA if any of the following apply to you for 2015 tax year: Read more