2018 Health Care Reporting Requirement

The IRS has issued a reminder that full-year health care coverage must be reported on 2018 tax returns. Taxpayers who don't qualify for an exemption must have maintained health care coverage in 2018, or must make a shared responsibility payment when they file their tax return. The IRS’ Interactive Tax Assistant can help determine if someone is eligible for a coverage exemption or is responsible for the individual shared responsibility payment. Under the TCJA, the shared responsibility payment is reduced to zero for 2019 and all subsequent tax years. Click here for details.