Prepare and process the tax forms relating to the premium tax and the individual shared responsibility penalty
Knowledge of basic individual income tax
All individual income tax return preparers need to be thoroughly familiar with Affordable Care Act compliance issues as it relates to individual taxpayers. Preparers should be able to knowledgeably prepare Form 8962, which deals with anyone eligible for a premium tax credit or who received a premium tax credit, whether eligible for it or not. Preparers should also be familiar with any applicable exemptions to the individual penalty that could apply and Form 9065, where application for an exemption is made. The program includes a case study with a line-by-line analysis of the relevant forms. Includes discussion of the practical implications of the IRS's determine to part with prior policy and enforce the Affordable Care Act to the letter.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Update