For Tax Preparers – Beyond the Basics https://www.healthreformbeyondthebasics.org Mon, 18 May 2020 19:32:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.13 TaxSlayer Tips and Tricks https://www.healthreformbeyondthebasics.org/taxslayer-ty2019-tips-and-tricks/ Wed, 18 Dec 2019 21:43:09 +0000 http://www.healthreformbeyondthebasics.org/?p=3485

Tips to Avoid Unnecessary APTC Repayment

December 18, 2019

TaxSlayer recently introduced new questions on the premium tax credit.

This quick guide explains two of these tricky questions, and outlines how to answer each one so that taxpayers aren’t accidentally charged an APTC repayment they do not owe.

]]> Reconciling Premium Tax Credits https://www.healthreformbeyondthebasics.org/2019-reconciling-premium-tax-credits/ Wed, 18 Dec 2019 13:54:00 +0000 http://www.healthreformbeyondthebasics.org/?p=4721 ACA Tax Training Webinar, Tax Year 2019

This webinar, presented on December 18, 2019,  explains how to reconcile the premium tax credit, which provides significant financial assistance to low- and moderate-income families who purchased coverage in the marketplace. This is an advance ACA certification topic for VITA and TCE volunteers.

This webinar is designed to help VITA/TCE sites and other volunteer tax preparers understand the ACA components of a tax return in order to assist low-income tax clients for the 2019 tax season.

Presentation Slides

↓ View presentation slides (PDF)

↓ Download PowerPoint presentation slides (PPT)

Watch the Webinar

Additional Resources

Premium Tax Credits Tips and Tricks (TY2019) | View resource

Resources for Volunteer Tax Preparers | View resources

]]> Basic Certification: Exemptions and the Individual Mandate https://www.healthreformbeyondthebasics.org/ty2018-exemptions-individual-mandate/ Tue, 20 Nov 2018 22:24:05 +0000 http://www.healthreformbeyondthebasics.org/?p=4381 ACA Tax Training Webinar Series, Tax Year 2018

As part of the ACA tax training webinar series for VITA/TCE volunteers presented on November 15, 2018, this webinar gives an overview of basic ACA certification topics for VITA and TCE volunteers, such as the requirement to maintain minimum essential coverage and how to claim an exemption from this requirement. It pays special attention to the exemption based on offers of unaffordable coverage.

This webinar series is designed to help VITA/TCE sites and other volunteer tax preparers understand the ACA components of a tax return in order to assist low-income tax clients for the 2018 tax season.

Presentation Slides

↓ View presentation slides (PDF)

↓ Download PowerPoint presentation slides (PPT)

Watch the Webinar

Overview of What’s Covered

Overview

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  • Shared responsibility payment
  • Overview of ACA rules for 2018
  • Full-year exemptions and when to use Form 8965
  • New general hardship exemptions

Coverage and Exemptions

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  • Minimum essential coverage
  • Income below the filing threshold
  • Entering all other exemptions in TaxSlayer

IRS exemptions:

  • New general hardship exemptions
  • Short coverage gap
  • Certain noncitizens
  • Medicaid coverage gap
  • CBPP Tax Exemption Tool for Income-Related Exemptions | View tool

Deep Dive: Affordability Exemption

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  • Affordability exemption
  • Example: Affordability of offer of employer coverage
  • Affordability: Marketplace coverage
  • Examples: Marketplace affordability
  • Integrating Taxslayer, Healthcare.gov and CBPP exemption tool
  • Previewing the tax return

 

Q&A

 

Additional Resources

ACA Exemptions Related to Income Tool | View tool

VITA/TCE Advance Certification: Reconciling the PTC | View webinar

Reference Guide: Yearly Guidelines and Thresholds | View reference guide

Resources for Volunteer Tax Preparers | View resources

]]> Advance Certification: Reconciling the Premium Tax Credit https://www.healthreformbeyondthebasics.org/ty2018-reconciling-premium-tax-credit/ Fri, 16 Nov 2018 22:56:45 +0000 http://www.healthreformbeyondthebasics.org/?p=4362 ACA Tax Training Webinar Series, Tax Year 2018

As part of the ACA tax training webinar series for VITA/TCE volunteers presented on November 13, 2018, this webinar explains how to reconcile the premium tax credit, which provides significant financial assistance to low- and moderate-income families who purchased coverage in the marketplace. This is an advance ACA certification topic for VITA and TCE volunteers.

This webinar series is designed to help VITA/TCE sites and other volunteer tax preparers understand the ACA components of a tax return in order to assist low-income tax clients for the 2018 tax season.

Presentation Slides

↓ View presentation slides (PDF)

↓ Download PowerPoint presentation slides (PPT)

Watch the Webinar

Overview of What’s Covered

Premium Tax Credit Rules and TaxSlayer

Jump to video section, View slides  

  • Eligibility criteria for PTC
  • Form 8962: Reconciling the PTC
  • Form 1095-A
  • Repayment of APTC
  • Income below 100% FPL
  • Entering Form 1095-A in TaxSlayer

Complex Form 1095-A Issues

Jump to video section, View slides  

Issue:

  • I thought I would file jointly, but I’m Married Filing Separately
  • Multiple Forms 1095-A
  • Failure to pay premiums
  • Only Column A of Form 1095-A is completed
  • Overlapping coverage

Review Tips

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  • Preview the return
  • Form 8962 review
  • If there is a repayment of APTC
  • Failure to reconcile

 

Q&A

 

Additional Resources

VITA/TCE Basic Certification: Exemptions and the Individual Mandate | View webinar

Premium Tax Credits Tips and Tricks (TY2017) | View resource

Resources for Volunteer Tax Preparers | View resources

]]> ACA Tax Training Webinar Series for VITA/TCE Volunteers https://www.healthreformbeyondthebasics.org/tax-preparer-aca-webinar-series-ty2018/ Wed, 24 Oct 2018 20:50:58 +0000 http://www.healthreformbeyondthebasics.org/?p=4312 Tax Year 2018

This webinar series is designed to help VITA/TCE sites and other volunteer tax preparers understand the ACA components of a tax return in order to assist low-income tax clients for the 2018 tax season.

Reconciling the Premium Tax Credit

This webinar will explain how to reconcile the premium tax credit, which provides significant financial assistance to low- and moderate-income families who purchased coverage in the marketplace. This is an advance ACA certification topic for VITA and TCE volunteers.

↓ View webinar video and presentation slides

Exemptions and the Individual Mandate

This webinar provides explanation of basic ACA certification topics for VITA and TCE volunteers, such as the requirement to maintain minimum essential coverage and how to claim an exemption from this requirement, paying special attention to the exemption based on offers of unaffordable coverage.

↓ View webinar video and presentation slides

 

]]> Premium Tax Credits Tips and Tricks for Tax Preparers https://www.healthreformbeyondthebasics.org/ptcs-tips-and-tricks-for-tax-preparers/ Thu, 22 Feb 2018 15:00:51 +0000 http://www.healthreformbeyondthebasics.org/?p=3098

Updated February 2018

This tool, Premium Tax Credits Tips and Tricks, explains Form 1095-A and how it’s used to reconcile the premium tax credit on Form 8962. It also shares a few tips and tricks to help resolve complex premium tax credit questions.

 

This resource was incorporated into IRS Publication 4012. For more information, please see IRS Publication 4012, Tab ACA: Affordable Care Act. 

]]> ACA Exemptions Related to Income Tool https://www.healthreformbeyondthebasics.org/aca-exemptions-income-tool/ Mon, 08 Jan 2018 16:00:05 +0000 http://www.healthreformbeyondthebasics.org/?p=3510 This tool is designed to help tax preparers with different income calculations that are necessary to determine eligibility for ACA exemptions related to income, especially the affordability exemption.

View tool for:

 

TY2018 Tool

Revised January 2019

This tool is designed to help tax preparers with different income calculations that are necessary to determine eligibility for ACA exemptions related to income, especially the affordability exemption.

 

TY2017 Tool
TY2016 Tool

March 2017

This downloadable Excel tool, ACA Exemptions Related to Income Tool, is designed to help tax preparers with different income calculations that are necessary to determine eligibility for ACA exemptions related to income, especially the affordability exemption.

For a quick tutorial on how to use the tool, please see our refresher webinar on the affordability exemption. 

↓ Download ACA Exemptions Related to Income Tool (xlsm)

 

 

]]> Basic Certification Topics: Exemptions https://www.healthreformbeyondthebasics.org/ty2017-basic-certification-topics-exemptions/ Wed, 22 Nov 2017 19:23:17 +0000 http://www.healthreformbeyondthebasics.org/?p=3927 VITA/TCE ACA Tax Training Webinar TY2017

Presented on November 20, 2017, this webinar provides explanation of basic ACA certification topics for VITA and TCE volunteers, such as the requirement to maintain minimum essential coverage and how to claim an exemption from this requirement. It pays special attention to the exemption based on offers of unaffordable coverage.

This webinar series is designed to help VITA/TCE sites and other volunteer tax preparers understand the ACA components of a tax return in order to assist low-income tax clients for the 2017 tax season.

Presentation Slides

↓ View presentation slides (PDF)

↓ Download PowerPoint presentation slides (PPT)

Watch the Webinar

Minimum Essential Coverage Refresher

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ACA requirements for minimum essential coverage

Shared responsibility payment

 

Exemptions

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Exemptions from the coverage requirement

  • Income below the filing threshold
  • IRS exemptions: Form 8965, Part III

 

Deep Dive: Affordability Exemption

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IRS exemptions: Affordability exemption

  • Example 1: Affordability of ESI
  • Example 2: Marketplace affordability
  • Example 3: Marketplace affordability

Marketplace exemptions: Form 8965, Part I

 

Q&A

 

Additional Resources

Webinar: Advance Certification Topic: Premium Tax Credit | View webinar

 

]]> Advance Certification Topic: Premium Tax Credits https://www.healthreformbeyondthebasics.org/ty2017-advance-certification-premium-tax-credits/ Wed, 22 Nov 2017 19:22:38 +0000 http://www.healthreformbeyondthebasics.org/?p=3931 VITA/TCE ACA Tax Training Webinar TY2017

Presented on November 21, 2017, this webinar provides explanation of how to reconcile the premium tax credit, which provides significant financial assistance to low- and moderate-income families who purchased coverage in the Marketplace. This topic is an advance ACA certification topic for VITA and TCE volunteers.

This webinar series is designed to help VITA/TCE sites and other volunteer tax preparers understand the ACA components of a tax return in order to assist low-income tax clients for the 2017 tax season.

Presentation Slides

↓ View presentation slides (PDF)

↓ Download PowerPoint presentation slides (PPT)

Watch the Webinar

Follow Up Questions: Exemptions

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Short coverage gap exemption

Code A exemption: Offer of COBRA coverage

 

Premium Tax Credit Refresher

Jump to video section, View slides 

Eligibility criteria for PTC

Form 8962: Reconciling the PTC

  • Form 1095-A
  • Repayment of APTC
  • Income below 100% FPL

 

Complex 1095-A Issues

Jump to video section, View slides 

Issue:

  • I thought I would file jointly, but I’m Married Filing Separately
  • Multiple Forms 1095-A
  • Failure to pay premiums
  • Only Column A of Form 1095-A is completed

Overlapping coverage

 

Review Tips

Jump to video section, View slides 

Preview the return

Form 8962 review tips

  • If there is a repayment of APTC

Failure to reconcile

 

Q&A

 

Additional Resources

Webinar: Basic Certification Topics: Exemptions | View webinar

 

]]> ACA: What Tax Preparers Need to Know Webinar Series https://www.healthreformbeyondthebasics.org/cbpp-tax-preparer-webinar-series-ty2017/ Mon, 13 Nov 2017 16:48:48 +0000 http://www.healthreformbeyondthebasics.org/?p=3860 Tax Year 2017

This webinar series explains what volunteer tax preparers need to know about the Affordable Care Act (ACA) to assist low-income tax clients with the healthcare portions of the tax return. It is intended for volunteer tax preparers, outreach partners and others who assist low-income tax clients.

Basic Certification Topic: Exemptions

Presented Monday, November 20, 2017 

This webinar will explain how to claim an exemption from the requirement to maintain health coverage, paying special attention to the exemption based on offers of unaffordable coverage.

View webinar materials

Advance Certification Topic: Premium Tax Credits

Presented Tuesday, November 21, 2017 

This webinar will explain how to reconcile the premium tax credit, which provides significant financial assistance to low- and moderate-income families who purchased coverage in the Marketplace.

View webinar materials

 

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