ObamaCare ACA Tax Penalty for 2015 & 2016

[AllenChicago]

AllenChicago

You're generally a good source of data. Was your account hacked?

My cell phone account was hacked 2 weeks ago. Someone made 57 calls to Cuba. Why do you ask?

 

[somarco]

Someone made 57 calls to Cuba.

How many cigars were ordered and charged to your credit card?

 

[Tkruger]

My cell phone account was hacked 2 weeks ago. Someone made 57 calls to Cuba. Why do you ask?

Because what you posted regarding STM plans avoiding the penalty is completely and totally incorrect.

Funny you bring up Cuba, I was just informed our VOIP phone servers were hacked and making calls out to Cuba this morning.

 

[AllenChicago]

How many cigars were ordered and charged to your credit card?

I'll check. What's the word for CIGAR in Spanish?

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Because what you posted regarding STM plans avoiding the penalty is completely and totally incorrect.

Funny you bring up Cuba, I was just informed our VOIP phone servers were hacked and making calls out to Cuba this morning.

What I posted is what the IRS says..not me, buddy! It was just a personal analysis on my part. I've explained it at least once a year for the past 2, in other threads. I'm not going through all the reasoning again. Thankfully, IRS rules remain unchanged for 2016.


Obama did something to suck up to Cuba this year. A lot of people in Florida and Havana were really excited about it. Particularly the crooks.

 

[Tkruger]

Allen, I've looked at the IRS pub you noted and nowhere does it state that having an STM plan (STM doesn't = MEC) prevents you from getting a penalty.

While I'd be happy for you to reference what you've explained regarding this topic to (not because I'm too lazy to find it but I just tried) further this discussion.

I, my business partner and his staff of CPA's whom might I add are in the middle of tax season don't agree with your theory. Nor does the publication I posted (For your convenience) agree with your theory.

1095 forms are not issued for STM plans. Nor does having an STM provide an exclusion for not having a MEC plan which is what is required by the ACA.

So please explain to me and everyone else here how you've come to this conclusion.

The following types of health insurance are not minimum essential coverage:

• Short Term Health Plans
• Fixed Benefit Health Plans
• Supplemental Medicare like Part D and Medigap
• Some Medicaid covering only certain benefits
• Vision only, Dental only, and limited benefit plans
• Grandfathered Plans (You will avoid the fee, but won’t get the new rights and protections)

Again, the floor is yours.

 

[somarco]

What's the word for CIGAR in Spanish?

El Tiparillo ........

 

[Yagents]

STM = Penalty.....................

 

[Tkruger]

Thank you!





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What I posted is what the IRS says..not me, buddy! It was just a personal analysis on my part.

Hey there buddy! As much as you post and others take your posts as "what is". You really have to be careful of what you post.

Posting this misinformation wins you no points or credibility.

I feel for the clients you sold on this misinformation and the tax penalty that occurs.

Allen..really bummed.

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What I posted is what the IRS says..not me, buddy! It was just a personal analysis on my part.

Hey there buddy! As much as you post and others take your posts as "what is". You really have to be careful of what you post.

Posting this misinformation wins you no points or credibility.

I feel for the clients you sold on this misinformation and the tax penalty that occurs.

Allen..really bummed.

 

[AllenChicago]

El Tiparillo ........

Thanks Somarco! I'll look to see if any "El Tiparillo" charges show up in my accounts. On a related note, that advertisement for them is certainly an attention getter. Raises a lot of questions in the imagination, LOL.

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The following types of health insurance are not minimum essential coverage:

• Short Term Health Plans
• Fixed Benefit Health Plans
• Supplemental Medicare like Part D and Medigap
• Some Medicaid covering only certain benefits
• Vision only, Dental only, and limited benefit plans
• Grandfathered Plans (You will avoid the fee, but won’t get the new rights and protections)

TKruger,
Please direct me to the IRS publication that contains the above list. If they've recently added that "Short Term Health Plans" bullet-point to the IRS website, I'll recant my position for this year. TIA.
-Allen

 

[Tkruger]

TKruger,
Please direct me to the IRS publication that contains the above list. If they've recently added that "Short Term Health Plans" bullet-point to the IRS website, I'll recant my position for this year. TIA.
-Allen

Allen, really?!?

So 23 CPA's with 2016 IRS software with 5K+ clients, other agents and me telling you that no 1095 form PLUS STM not meeting the definition of MEC are all wrong>>?

I truly hope you're not providing this guidance to your clientele...