IRS REVERSES POLICY ON CERTIFYING INDIVIDUAL MANDATE COMPLIANCE

October 30 2017
AFFORDABLE CARE ACT: COMPLIANCE BULLETIN HIGHLIGHTS « For the 2017 tax year, the IRS will not accept electronic tax returns that do not certify compliance with the individual mandate. « Paper returns that do not certify compliance may be suspended and any refunds may be delayed. « This will be the first time the IRS will not accept tax returns that omit this information. IMPORTANT DATES « October 13, 2017 The IRS reversed its policy on accepting returns that do not include health coverage information. « April 15, 2018 Individual tax returns for the 2017 tax year are due. OVERVIEW On Oct. 13, 2017, the Internal Revenue Service (IRS) reversed a recent policy change in how it monitors compliance with the Affordable Care Act’s (ACA) individual mandate. For the upcoming 2018 filing season (filing 2017 tax returns): « The IRS will not accept electronically filed tax returns where the taxpayer does not certify whether the individual had health insurance for the year; and « Paper returns that do not certify compliance with the individual mandate may be suspended pending receipt of additional information, and any refunds due may be delayed. ACTION STEPS To avoid refund and processing delays when filing 2017 tax returns in 2018, taxpayers should indicate whether they (and everyone on their return) had health coverage, qualified for an exemption or are paying an individual mandate penalty. This process reflects the ACA’s requirements and the IRS’s obligation to administer the law. This information was sent to BIC by Allied National, provided by Drexel & Associates and © Zywave, Inc.

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