Who Form 1094 B Deduction 2022-2023

Instructions and Help about Who Form 1094 B Deduction

Hi my name is Bruce roth and I have today is my guest Dave hora del dave is an enrolled agent and the founder of torchlight tax and financial services Dave can you tell us how the Affordable Care Act it's all in the news how some people it's good some people it's bad but how what are the implications for taxpayers taxes well if you if you don't have you know health coverage then the IRS is going to find you for not having health coverage and the finding is last year are significantly increased this year until you will actually have to pay more in taxes for failing to get health care and my understanding correct me if I'm wrong is that people with very low incomes that penalty is waived is that accurate yeah the penalty can be waived for people with low incomes and the other thing that you know there are some other things that you know people can they can be waived for for example if you were if you were if you were at a home and you were thread with an eviction if you keep a copy of that addition knows he ascended to the IRS and say you know do the proper format broke I was broke and I hear the evidence of my home eviction notice or they were threatening to cut off my power or whatever you have something like that listening the person actually during the year if that occurred with them and the year is over and they were under financial stress they didn't have enough money and i think really thought they could afford the health insurance well then they can go ahead and you know they can attach that to their tax return with the...