The Peck Group LC
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Free 30 minute telephone consultation
Comprehensive Tax Law Representation Since 1995
We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

Avoiding IRS hot water over health care coverage

On Behalf of | Nov 8, 2017 | IRS |

Many likely would agree that when it comes to paying for health care in America, including Georgia, confusion reigns. This has long been the case, but it seems compounded this year because of the status of the Affordable Care Act, also known as Obamacare.

Whether or not you agree with this tax-based method for making health care more accessible to more people, the reality is that it is a force to reckon with. President Trump’s pledge to repeal and replace has come up short. And while the president has tweeted that he thinks the House tax overhaul measure should repeal of the individual mandate on health care coverage, it’s not clear it will make the final draft.

IRS will toe the line on ACA return filing requirements

At the same time, the IRS is making clear that it will enforce ACA provisions for the 2018 tax filing season, which means that some taxpayers could be facing disputes with tax collectors. Specifically, the agency tells filers that it will reject electronically filed returns if they don’t indicate the person’s coverage status. They must attest they have coverage, are exempt from the mandate, or will be fulfilling payments required under the individual shared responsibility provision of the law.

Those who send their returns in through the regular mail will also face potential problems if they fail to fulfill the requirements of the ACA. The IRS says paper returns lacking information about health coverage will be suspended and lead to delays in receiving a refund.

The IRS does not hold it against you if you try to avoid paying unnecessary taxes. But to avoid IRS audits and the challenges they can bring, compliance with filing requirements typically proves to be the best preventive medicine health

We insist that your taxpayer rights are protected and your options are known.

Our services are confidential and are protected under the attorney-client privilege as allowed by law.