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IRS will issue three new tax forms to help it enforce the individual mandate...

The requirement that individuals who go without health insurance pay a tax. This rule will bite people who go uncovered for more than nine months in a year. Unlike the employer mandate, the individual mandate rule has not been delayed.Exchanges will issue Form 1095-A and insurers will use Form 1095-B to indicate proof of coverage. The reports will go to individuals and to the Service.Individuals will file Form 8965 to claim an exemption from coverage.This includes people who can show that they’re without coverage because of a hardship,as well as folks whose policies were canceled and who can’t buy affordable coverage.

1 Comment to IRS will issue three new tax forms to help it enforce the individual mandate...:

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IRS Tax lien services on Monday, March 24, 2014 12:55 AM
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