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Part V: Common Errors and Introduction to Advanced Reconciliation

In this webinar, Tara Straw, Senior Health Policy Analyst at CBPP, looks at common questions and errors that tax preparers might run into, and she introduces complicated reconciliation scenarios, such as when couples marry, divorce or separate during the year.

This is the fifth session in a new webinar series titled “ACA: Everything You Need to Know.” The series is designed to help VITA sites and outreach partners prepare for the tax season.

Presentation Slides

View slide deck.

(Please note the slides 4-6 have been updated. The video recording does not reflect these updates.)

Watch the Webinar

Common Errors

(View video, View slides)

Review: Definitions of income

–  For premium tax credits

–  For exemptions

Problem: Why is TaxWise calculating a penalty?

TaxWise ACA Worksheet

Problem: Does this employer-sponsored plan qualify as minimum essential coverage?

Marketplace exemptions

Affordability exemption

Premium tax credits: Form 1095-A

Advanced Reconciliation

(View video, View slides)

Marriage

–  Alternate marriage calculation

Shared policy allocations

–  What is a shared policy?

–  Divorce

–  Separation

–  “Shifting” enrollee

Q&A


Additional Resources
  • Downloadable PowerPoint presentation slides | PPT slides
  • ACA: Everything You Need to Know Webinar Series | Learn more
  • Affordable Care Act Survival Kit | View kit
  • The Tax Preparer’s Guide to the Affordable Care Act | View guide
  • CBPP’s National Tax Credit Outreach Campaign | eitcoutreach.org