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Finding A Tax Exemption When You Do Not Have Health Insurance

Finding A Tax Exemption When You Do Not Have Health Insurance

Starting in 2014, taxpayers were required by law to obtain health insurance coverage. A change for many communities, some taxpayers are still adjusting to the new requirement. If you were without health insurance coverage for any month of the year during 2015, you may have to pay a fine when you file your taxes. However, Attorneys Tax Relief can help you determine whether or not you qualify for an exemption. It is important to understand the various categories of exemptions so you can determine whether or not you qualify.

Short amount of time without coverage

In some cases, you may be able to qualify for an exemption if you were without health insurance for less than three months out of the year. Attorneys Tax Relief can help determine whether or not you might qualify for this exception.

No options were available

If no affordable health insurance options were available to you or offered to you in your particular community, you may qualify for an exemption. The IRS can use this information to determine which communities really need more assistance and in which communities the requirement is unrealistic.

Qualifying life hardships

If you were a victim of domestic violence, homelessness, a natural disaster, or another case that is considered a qualifying hardship, you may be able to receive an exemption from the requirement. In this case, there may also be community locations that can help you sign up for health insurance so that you do not receive a penalty next year. Attorneys Tax Relief can help you negotiate these circumstances if you are unsure whether or not your unique circumstance applies.

Medicaid laws in your state

If the state where you live determined that you cannot receive Medicaid services because they did not accept this portion of the Affordable Care Act, you may be eligible for an exemption. This is especially the case if your household is living below the determined poverty level in such a way that you would qualify for Medicaid in other states.

Proving that you are not a citizen of the United States

If you are not a citizen of the United States but you are paying taxes, you may be able to receive an exemption from the health insurance requirement.

Overall, the easiest way to avoid fines is to take the time to learn about available affordable health insurance options in your community and sign up for a plan. However, in the event that such an option is not available or you are facing extreme circumstances, Attorneys Tax Relief can work with you to determine the best solution for your taxes.

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