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When the Tax Cuts and Jobs Act went into effect in 2018, it eliminated this tax penalty as of tax year 2019. The worksheets located in the instructions [ 15 ] to Form 8965, Health Coverage Exemptions , could be used to figure the shared responsibility payment amount that was due while still in effect.
You can’t electronically file your 2018 return, although you can e-file returns for tax year 2019 and later. Per IRS rules, all 2018 returns should be filed with an IRS center.
If the taxpayer doesn’t file until July 17, which is more than 60 days late, his failure-to-file penalty will be $435 — $435 being the lesser of that minimum or 100% of the tax owed.
Sure, it’s not even New Year’s Eve yet, but the deadline to file 2018 taxes is looming (April 15, 2019, to be exact) and, with a bunch of tax reform changes to know about, a jump-start now ...
Under the individual mandate provision (sometimes called a "shared responsibility requirement" or "mandatory minimum coverage requirement" [79]), individuals who are not covered by an acceptable health insurance policy will be charged an annual tax penalty of $95, or up to 1% of income over the filing minimum, [80] whichever is greater; this ...
The annual deadline to file one's Federal individual income tax return is April 15. The IRS lists scenarios for which Tax Day does not follow this standard deadline - Taxpayers can file an extension where the taxes owed must be paid by April 15 but the completed tax return filed by October 15.
With all of the buzz about the new Tax Reform many taxpayers are questioning how this will affect their 2018 tax return. With all of the buzz about the new Tax Reform many taxpayers are ...
Under the individual mandate provision (sometimes called a "shared responsibility requirement" or "mandatory minimum coverage requirement" [3]), individuals who are not covered by an acceptable health insurance policy will be charged an annual tax penalty of $95, or up to 1% of income over the filing minimum, [4] whichever is greater; this will ...