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Critical 1040 Reporting Issues Related to the New Affordable Care Act (ACT2)
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The IRS issued Forms 1095-A, 8962 and 8965 for the first time in 2014 and employer/insurance company reporting on Forms 1095-B and 1095-C will be required for 2015. These forms all relate to required reporting that individuals must make with respect to the individual shared responsibility penalty that applies to those who do not carry adequate health insurance or are exempt from doing so. All 2015 individual income tax return preparers need to be thoroughly familiar with these reporting forms, p

6/15/2015
When: 6/15/2015
5:00 PM - 7:00 PM
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA | Bob Lickwar, CPA


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The IRS issued Forms 1095-A, 8962 and 8965 for the first time in 2014 and employer/insurance company reporting on Forms 1095-B and 1095-C will be required for 2015. These forms all relate to required reporting that individuals must make with respect to the individual shared responsibility penalty that applies to those who do not carry adequate health insurance or are exempt from doing so. All 2015 individual income tax return preparers need to be thoroughly familiar with these reporting forms, particularly Form 8962, due to its complexity and general applicability to most individual Form 1040 filers. This program will introduce several new 2015 Affordable Care Act-related forms that individuals will encounter when they determine whether or not they are subject to the individual shared responsibility penalty for 2015. The program includes a case study with a line-by-line analysis of the relevant forms.

  

Objectives: * Prepare and process the tax forms relating to the premium tax and the individual shared responsibility penalty for 2015

 

Major Subjects: * Determining the amount of the individual shared responsibility penalty * Statutory exemptions from mandated health insurance coverage * Obtaining and calculating the amount of the premium tax credit * Reconciling the amount of the individual’s premium tax credit awarded with the amount to which the individual is entitled * Form 1095 series * Ins and outs of Form 8962, Premium Tax Credit * Form 8965, Health Coverage Exemptions * Complete case study with filled-in forms

 

Designed for: All 2015 Form 1040 tax return preparers

 

Prerequisite: Knowledge of basic individual income tax

 

Advanced Prep: None

 

Speaker: Mike Tucker, Ph.D., LL.M., J.D., CPA | Bob Lickwar, CPA

 

Vendor: Surgent McCoy

 

Field of Study: Taxes (2)

 

Level: Update

 

CPE Credit: 2 Hours

 

Acronym: ACT2

 

Registration Fees: $89.00

 

 

Register Here

 

 

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