Health Coverage Will NOT Be Ignored [Tax Season 2018]

Are you ready?! Tax Season 2018 is approaching. Your tax office is getting prepped and ready. It is clear- you will not be able to skip the health coverage question come 2018 Tax Season.


Every tax season is fraught with uncertainty and change. Next tax season will be no different and the change:  The Health Coverage checkmark question cannot be skipped.

What has changed:

  • Last tax season a failure to indicate whether health coverage was met simply imposed a penalty, and your tax return was still able to process.
  • Next tax season come 2018, your tax return will not process! Failure to indicate health coverage will reject all tax returns that are being electronically filed and paper-mailed.

📝 Steps you must take:

  1. Ensure that you print out your 1095-A statement (if you have the Affordable Care Act, ie Obamacare). If you are covered by your employer, be sure to obtain your 1095-C/B statement(s).
  2. Bring these statement(s) with you to your tax-filing appointment. 
  3. If you did not have health coverage this year, be prepared to inform us at the tax office and save for your shared responsibility payment that will be assessed based on your earnings.

Again, to avoid refund and processing rejection, you will need to indicate whether or not you and your family had health coverage the prior year and bring the appropriate documentation. If you did not have health care,  be prepared to make the shared responsibility payment.

📧 Spread the word within your community and link back to this article for those who require additional information. Stay in the know with PAS News & Client Announcements.

🔗 Linked below are additional resources on the new requirement and the original articles cited.


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Tax Pro Today – Oct. 17th, 2017: https://www.accountingtoday.com/news/irs-wont-accept-tax-returns-next-year-without-health-coverage
IRS Resource ~ Individual Shared Responsibility Provision

Not Another Traveling Restriction [Real ID]

Communities may be blind-sighted by the “Real ID”, a new requirement for travelling and visiting federal buildings, represented by a star on the ID. One of our tax & accounting customers was surprised when I confirmed that the new rule will apply to even us, everyday individuals. The rule will apply to those who have commercial and non-commericial driver’s licences, and to those who do not drive, having just an ID.


Born out of tighter security regulations post 9/11, the Real ID Act of 2005 will be federally enforced at the beginning of 2020.

RESTRICTIONS

✪ What you will not be able to do without a star on your driver’s license:

  • Enter federal buildings
  • Restricted inter-state travel by plane
  • Enter any military precinct

HOW TO APPLY / RENEW

For NC Residents

To get the new license, simply apply in person at the DMV and bring:

  1. $5 Dollars
  2. A birth certificate or a social security card
  3. Any proof of residency including a utility bill, NC mailings (or current state), or any letter from the state that was mailed to your address.

And that’s it! You will have the all-anointed star on your ID!! You’ll now be able to enter federal facilities, military precincts, and travel within the US by air.

📧 Spread the word within your community and link back to this article for those who require additional information. Stay in the know with PAS News & Client Announcements.

🔗 Linked below are additional resources on renewing your ID and the original resources cited.


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Winston-Salem Journal printed publication September 29, 2017; p1 State officials tout ‘Real ID’
NC DMV – Real ID: 
https://www.ncdot.gov/dmv/driver/realid/
WS Journal Article ~ Sept. 28th 2017
WS Journal Article
~ April 26th 2017