For taxpayers who receive health insurance coverage through an employer, a government plan, or the marketplace, they will need to report their health insurance coverage on their tax return for the 2014 tax year.
Taxpayers who have health insurance through the marketplace should receive a Form 1095-A. This form must be reported in order to calculate the Premium Tax Credit.
If you did not have health insurance in 2014 and you do not fall under an exemption from the requirement, you will be subject to the health insurance penalty.
If you need assistance in filing your tax return this year, feel free to contact our law office at 816-524-4949 or www.Hoorfarlaw.com.