Friday, January 9, 2015

Are You Ready To Talk Health Insurance On Your Tax Forms

By Coleen Elkins
It is the time of year when tax preparing companies remind us April 15th is approaching. The television commercials  are already beginning. Have you seen the green bowtie yet? Major tax preparing companies are warning you that there is an extra step on your taxes this year.

To help you get past the confusion the government is launching a new website. The website is a joint effort of Health and Human Services and the Internal Revenue Service. As of this writing the URL has not been published. The website will provide guidance in sharing your health insurance information and attesting to the fact that you do have health insurance. It will also help you determine if you qualify for an exemption from The Affordable Care Act.

A major tax preparing firm H&R Block has said up to thirty million people would be impacted by the filing changes. Those that have obtained a subsidy must file taxes to keep their subsidy even if they normally would not have to file.

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