A Tax Requirement, Now Being Enforced


          It has now been made official. The IRS will NOT accept Federal Tax Returns that do not answer the questions about health coverage under the Affordable Care Act. This change in policy will go into effect next year, for the upcoming Tax Season. This is a significant move on the part of the IRS.
          In the past, this requirement had been something of a gray area. Due to a variety of factors, the IRS has been processing Tax Returns where individuals have not shown that they have health coverage. However, they would still apply a penalty to these Taxpayers. Even so, in these situations a Tax Refund would still be issued, a little later than most. That will no longer be the case. As it stands, the ACA is still in place, and the IRS will apply its obligations under the law to all Taxpayers. Even if it means suspending or rejecting the processing of a Tax Return until it gets an answer. Be sure to ask your Qualified Tax Professional what this means for you.

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