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If I receive my coverage from my spouse’s employer, will I have minimum essential coverage?

  • Date updated 2021-11-12
  • By On-Line Taxes, Inc

If I receive my coverage from my spouse’s employer, will I have minimum essential coverage?

Yes. Employer-sponsored coverage is generally minimum essential coverage. (See question 5 for information on specialized types of coverage that are not minimum essential coverage.) If an employee enrolls in employer-sponsored coverage that provides minimum value for himself and his family, the employee and all of the covered family members have minimum essential [...]

What happens if I owe an individual shared responsibility payment, but I cannot afford to make the payment when filing my tax return?

  • Date updated 2021-11-11
  • By On-Line Taxes, Inc

What happens if I owe an individual shared responsibility payment, but I cannot afford to make the payment when filing my tax return?

For calendar year 2021, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is 0 (2020 and 2019 also), per the Tax Cuts and Jobs act; for 2018 the amount was $695 The IRS routinely works with taxpayers who owe amounts they cannot afford to pay. The law prohibits the IRS from using liens or levies to collect any individual shared responsibility [...]

What do I need to do if I am required to make a payment with my tax return?

  • Date updated 2021-11-11
  • By On-Line Taxes, Inc

What do I need to do if I am required to make a payment with my tax return?

For calendar year 2021, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is 0 (2020 and 2019 also), per the Tax Cuts and Jobs act; for 2018 the amount was $695 2018 and prior years. If you have to make an individual shared responsibility payment, the amount due is reported on line 61 of Schedule 4 for Form 1040 in the Other Taxes section. [...]

How do I report or claim a coverage exemption on my tax return?

  • Date updated 2021-11-12
  • By On-Line Taxes, Inc

How do I report or claim a coverage exemption on my tax return?

Exemption Form 8965 is not used for 2021, 2020 or 2019 returns. You will have to account for coverage exemptions when you file your federal income tax return. You claim or report coverage exemptions on Form 8965, Health Coverage Exemptions, and file it with your Form 1040, Form 1040A, or Form 1040EZ. These forms can all be prepared and filed electronically. However, if your gross income is [...]

How do I report that I had health coverage for each month of the year?

  • Date updated 2021-11-11
  • By On-Line Taxes, Inc

How do I report that I had health coverage for each month of the year?

For tax year 2021 (2020 or 2019), you will select YES or NO to the health coverage question if you received a form 1095A for marketplace coverage in the "my info" section. If you had coverage through the federal marketplace, you will enter your 1095A information and complete form 8962 on the taxes page. If you did not have coverage through the marketplace, no additional healthcare information [...]

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