by Sierra Marlee | February 15, 2017 7:28 pm
The IRS is working with President Trump to lessen the burden of Obamacare on the individual, by stating that they will not reject tax forms that do not have proof of insurance.
For those of us like myself who can’t afford insurance or the fine, that is going to be a great relief.
From Western Journalism:
Effective with 2016 tax returns, the IRS was to reject so-called “silent returns ” — the returns on which the taxpayer did not show proof they had appropriate health care coverage during the year.
“The recent executive order directed federal agencies to exercise authority and discretion available to them to reduce potential burden,” the IRS said in a statement to Reason magazine. “Consistent with that, the IRS has decided to make changes that would continue to allow electronic and paper returns to be accepted for processing in instances where a taxpayer doesn’t indicate their coverage status.”
“Processing silent returns means that taxpayer returns are not systemically rejected, allowing them to be processed and minimizing burden on taxpayers, including those expecting a refund,” the statement continued.
The individual mandate requires that taxpayers purchase health coverage for their family or pay a “shared responsibility payment.” The penalty for 2016 could be as high as $695 for adults and $395 for children younger than 18 years of age, with a cap of $2,085 for a family.
Not having health insurance was deemed a tax penalty, thus the IRS was in charge of collecting the tax.
Hopefully this is going to help out families that can’t afford the ridiculously high price of insurance. I know this is a huge weight off my shoulders this year.
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