Frequently-asked questions by tag

shared responsibility penalty

Although there is no longer a federal tax penalty for being uninsured, some states have created their own penalties with enforcement mechanisms that largely mirror the federal rules that applied through 2018.

Is it true that the government can’t really enforce the penalty for not having health insurance?

September 12, 2019 – Although there is no longer a federal tax penalty for being uninsured, some states have created their own penalties with enforcement… Read more

Is the Obamacare individual mandate just based on the honor system?

Is the Obamacare individual mandate just based on the honor system?

January 19, 2019 – Q. Is the Obamacare individual mandate just based on the honor system? A: In some ways, yes. But although the individual mandate penalty… Read more

A tax form highlighting line 61

Will the IRS still enforce the individual mandate penalty for 2018 tax returns?

January 17, 2019 – The individual mandate and its associated penalty are applicable to 2018 tax returns, as the repeal of the mandate penalty didn't take… Read more

I’ve heard that I need to have an ACA-compliant health plan, but what does that mean?

I’ve heard that I need to have an ACA-compliant health plan, but what does that mean?

April 7, 2018 – Q. I've heard that I need to have an ACA-compliant health plan, but what does that mean? A: It just means an individual or small group… Read more

Will the IRS apply my payment to my penalty or to my income tax?

If I owe income tax and the ACA penalty but don’t plan to pay the ACA penalty, will the IRS apply my payment to my penalty or to my income tax?

January 12, 2018 – Q. If I owe income tax and the ACA penalty but don’t plan to pay the ACA penalty, will the IRS apply my payment to my penalty or to my… Read more