Source: PRIME PAY, 2/20/17

 
This post was prepared for PrimePay by Marathas Barrow Weatherhead Lent LLP, a national law firm with recognized experts on the Affordable Care Act. Contact Stacy Barrow at sbarrow@marbarlaw.com or Mitchell Geiger at mgeiger@marbarlaw.com.
The IRS will no longer reject tax filings of individuals who do not have health insurance as required under the Affordable Care Act (ACA) in direct response to the President’s January executive order to ease the burden of Obamacare.

The instruction for individual taxpayers involving the ACA has been to indicate on line 61 of their Form 1040 filing whether they had health insurance, had an exemption from coverage, or made a shared responsibility payment. Tax returns silent in that regard were rejected for processing and those taxpayers were forced to pay a tax penalty under the ACA’s individual mandate equal to 2.5 percent of household income or as much as $695 per adult and $347.50 per child under 18.

For more of this story, click here.