February 17, 2017

Tax tip

Center on Budget & Policy Priorities - The Affordable Care Act’s individual mandate remains in force, so taxpayers “should file their tax returns as they normally would,” the IRS reminded taxpayers yesterday. Specifically, they should continue to indicate on their tax return whether they were insured last year or exempt from the requirement to have health coverage, or whether they owed a penalty for not having coverage. President Trump’s January 20 executive order directing agencies to “minimize … regulatory burdens” under the ACA prompted the IRS to abandon plans to tighten the reporting of health coverage this tax-filing season. But it didn’t change the individual mandate.

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