The Affordable Care Act requires you and each member of your family to have qualifying health care coverage, qualify for an exemption from the responsibility to have minimum essential coverage, or make an individual shared responsibility payment when you file your federal income tax return. For purposes of ACA, qualifying health care coverage is also known as minimum essential coverage.
Minimum essential coverage includes: Health plans offered in the individual market – plans offered by a health insurance issuer licensed by a state, including a qualified health plan offered through the federally-facilitated or a state-based Health Insurance Marketplace Grandfathered health plans – plans that were in existence on March 23, 2010 and haven’t been changed in ways that substantially cut benefits or increase costs for consumers – for more information, visit HealthCare.gov Government-sponsored programs
For more information about minimum essential coverage, visit IRS.gov/aca andHealthCare.gov.
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People often change their job in the summer. If you look for a job in the same line of work, you may be able to deduct some of your job search costs. Here are some key tax facts you should know about if you search for a new job:
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are your Taxpayer Bill of Rights. Farmers should check with the Morrow County Farm Service Agency to see if they have signed their 2014 & 2015 ARC/PLC contracts. Because of the numerous steps to complete sign-up into the Farm Program this year, many producers believe they have already completed sign-up. Actually, signing contracts by September 30th is the final step. MANY producers have not done this yet in Morrow County. It is extremely important to sign contracts on your farms for 2014 and 2015 by the up-coming deadline. Please call the Morrow County FSA Office at 419-946-2780 ext.2 to schedule an appointment or to confirm you have signed contracts.
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AuthorJessica Clark has over 12 years experience in the accounting industry. Archives
November 2016
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