Tag: Health Insurance

What Responsibilities Do Tax Preparers Have in Assessing ACA Penalties?

Robert Flach at his “The Tax Professional” blog asks the following question regarding Affordable Care Act penalties assessed on tax returns against people who do not carry health insurance: What is our legal responsibility as tax preparers when it comes to calculating the new convoluted and potentially expensive Obamacare penalty for clients who are not […]

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IRS Guidance on FICA Refunds for Same-Sex Married Couples

The IRS has released a streamlined procedure for recovering FICA taxes withheld on the pay of same-sex married couples in cases where benefits (typically health insurance) were counted as taxable income to an employee. Background Under tax law, employer-provided health insurance is considered a tax-free benefit as long as the insurance covers the employee, the […]

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