ELIZABETH Posted January 24, 2015 Report Share Posted January 24, 2015 Hello, I'm new to this forum and I have many questions about the health insurance. 1.- If everyone in the tax have a social security number, but no one had health insurance, what form should I fill out in order to know their penalty? 2.- If everyone in the tax have the ITIN numbers, do I still need to fill out a form even though they wont be penalized for not having a health insurance, or can I just send it with the warning? 3.- There's a deadline to get a health insurance which is Feb 15, does this mean that if they get insurance before that date they won't be penalized? Quote Link to comment Share on other sites More sharing options...
easytax Posted January 25, 2015 Report Share Posted January 25, 2015 1. 8965 2. 8965 and show exemption(s) with applicable code (maybe code "C") Just making sure you know ITIN is NOT the same as SS#'s (from your question #1). 3. Feb 15 (if I understand the question) is for 2015 insurance --- so even with 2015 insurance, 2014 is still open. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 25, 2015 Report Share Posted January 25, 2015 Hello, I'm new to this forum and I have many questions about the health insurance. 1.- If everyone in the tax have a social security number, but no one had health insurance, what form should I fill out in order to know their penalty? 2.- If everyone in the tax have the ITIN numbers, do I still need to fill out a form even though they wont be penalized for not having a health insurance, or can I just send it with the warning? 3.- There's a deadline to get a health insurance which is Feb 15, does this mean that if they get insurance before that date they won't be penalized? You need to get some serious training about the ACA RIGHT NOW! Quote Link to comment Share on other sites More sharing options...
jklcpa Posted January 25, 2015 Report Share Posted January 25, 2015 Hi Elizabeth, welcome to the forum and please accept my apology for Jack's less than helpful post. Easytax gave you the answers to your questions. For a good guide that may help you get started with the ACA for 2014 returns, you might consider using Pub 5157. It is the IRS guide covering the ACA for VITA preparers and is in a lesson-style format with the more common situations that we'll encounter this season due to the ACA. 1 Quote Link to comment Share on other sites More sharing options...
Pacun Posted January 25, 2015 Report Share Posted January 25, 2015 Welcome to the board. You got the answer and I just want to add: 1.- Fill out the form anyways because they computer might generate a letter to your client if you don't mention ACA for 2014 and later years. 3.- Even if they register before Feb 15, client will be penalized if they didn't have insurance in 2014 AND they will be penalized for not have 2 months of insurance when they file their 2015 taxes in 2016. There a good course at www.apluscpe.com that is called ACA in the real world, you should take that video course since it only costs $5.95. I took it and it is worth it. If you have more questions, please feel free to post them and a lot of people will help you. 2 Quote Link to comment Share on other sites More sharing options...
ELIZABETH Posted January 26, 2015 Author Report Share Posted January 26, 2015 1. 8965 2. 8965 and show exemption(s) with applicable code (maybe code "C") Just making sure you know ITIN is NOT the same as SS#'s (from your question #1). 3. Feb 15 (if I understand the question) is for 2015 insurance --- so even with 2015 insurance, 2014 is still open. yes I know ITIN is not the same as SS#... Thankyou for your help Quote Link to comment Share on other sites More sharing options...
ELIZABETH Posted January 26, 2015 Author Report Share Posted January 26, 2015 Welcome to the board. You got the answer and I just want to add: 1.- Fill out the form anyways because they computer might generate a letter to your client if you don't mention ACA for 2014 and later years. 3.- Even if they register before Feb 15, client will be penalized if they didn't have insurance in 2014 AND they will be penalized for not have 2 months of insurance when they file their 2015 taxes in 2016. There a good course at www.apluscpe.com that is called ACA in the real world, you should take that video course since it only costs $5.95. I took it and it is worth it. If you have more questions, please feel free to post them and a lot of people will help you. Thankyou I'll take the course Quote Link to comment Share on other sites More sharing options...
ELIZABETH Posted January 26, 2015 Author Report Share Posted January 26, 2015 Hi Elizabeth, welcome to the forum and please accept my apology for Jack's less than helpful post. Easytax gave you the answers to your questions. For a good guide that may help you get started with the ACA for 2014 returns, you might consider using Pub 5157. It is the IRS guide covering the ACA for VITA preparers and is in a lesson-style format with the more common situations that we'll encounter this season due to the ACA. Thank you Quote Link to comment Share on other sites More sharing options...
RitaB Posted January 26, 2015 Report Share Posted January 26, 2015 (edited) Welcome, Elizabeth. Here is a link to an IRS webinar you might also find helpful: http://www.irsvideos.gov/2014ACAIndividualsFamilysSmallBusinesses/ Edited January 26, 2015 by RitaB Quote Link to comment Share on other sites More sharing options...
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