How an individual obtains an exemption depends upon the type of exemption. Taxpayers who did not maintain coverage throughout the year and meet certain criteria may be eligible to obtain an exemption from coverage. Taxpayers should respond promptly to IRS correspondence about their health care coverage. If filed on paper, returns that do not reflect at least one of these options will take longer to process and any refunds will be delayed. The IRS will not accept tax returns that do not reflect at least one of these options if filed electronically. These taxpayers should pay close attention to guidance that covers their situation.Īlmost all taxpayers must report health care coverage, claim a coverage exemption or report a shared responsibility payment. Some taxpayers will find that they qualify for an exemption for part of the year but must make a payment for another part of the year. Taxpayers who do not have qualifying health care coverage and who do not qualify for an exemption will need to make an individual shared responsibility payment when they file their tax returns. Some taxpayers will have to file a Form 8965 PDF to claim an exemption from the requirement to have health care coverage. They will simply check a box on their return to indicate that everyone listed on the front of the return has qualifying health care coverage for the entire year. Most taxpayers are in the first category and have qualifying health insurance coverage for each month of the year. Under the Tax Cuts and Jobs Act, taxpayers must continue to report coverage, qualify for an exemption, or pay the individual shared responsibility payment for tax years 20. Make an individual shared responsibility payment when filing federal income tax return.Have an exemption from the requirement to have coverage.Have qualifying health insurance coverage for each month of the year.The Affordable Care Act calls for all taxpayers to do at least one of three things: Individual shared responsibility provision The questions and answers explain who should expect to receive the forms, how they can be used, and how to file with or without the forms. The IRS has posted a set of questions and answers about the Forms 1095-B and 1095-C. The deadline for the Marketplace to provide Form 1095-A is January 31 of the year following the coverage year. Individual taxpayers should file their returns as they normally would. While the information on these forms may assist in preparing a return, they are not required. Some taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their tax return and it is not necessary to wait for Forms 1095-B or 1095-C in order to file. If you are expecting to receive a Form 1095-A, you should wait to file your income tax return until you receive that form. Health coverage providers, employers and the Marketplace will also file these forms with the IRS. Form 1095-C, Employer-Provided Health Insurance Offer and Coverageĭepending upon your specific circumstances, the Health Insurance Marketplace, health coverage providers and certain employers may provide information forms to you to help you accurately report health coverage information for you, your spouse and any dependents when you file your individual income tax return.Form 1095-A, Health Insurance Marketplace Statement.You also must be approved by Green Dot to receive a Turbo? Prepaid Visa® Card.Taxpayers who are preparing to file their tax returns may receive multiple health care information forms that they can use to complete their return.You are using any of our tax products where a professional is completing your taxes.Your expected refund amount is less than $1,000.The tax return is on behalf of a deceased person.Your physical address or the tax returns you are filing are for one of the following states or the District of Columbia: AL, AK, AR, CO, CT, DE, HI, IA, ID, IL, LA, MD, ME, MI, MN, MT, NC, ND, NE, NH, NJ, NV, NY, OK, OR, PA, RI, SD, TN, TX, VA, VT, WA, WI and WY.territory, a PO box or located in a prison. Your physical address is: located outside of the United States or is in a U.S.You will not be eligible for the offer if: It is not based on credit score. You may have the opportunity to select the cash advance at the time you choose your refund method. If you're owed a federal refund, you could be eligible for up to a $1,000 cash advance if approved.
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