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Rocky Start For Affordable Care Act and 2014 Tax Returns

Posted by Admin Posted on Feb 23 2015
We all remember the big problems that the government's website had last year at the first enrollment of the Affordable Care Act.  People couldn't login; the system was losing information; etc.  

This year, the enrollment process apparently was much improved with few problems reported.

Now as we enter the first tax season with ACA, the IRS and the government has had a fiasco. First, anyone that claimed the credit to obtain insurance could not file as one of the required forms was not approved for filing. Last week, the IRS finally approved the form and those individuals could begin filing.

Then over the weekend, the White House announced that the government marketplace had issued incorrect tax data to approximately 800,000 people. Those people that have filed will need to amend their returns and they have asked those that have not filed yet - to hold off filing until corrective forms can be sent out. 

I have a client that is waiting to file and he is frustrated. He wants to file and get his refund but he can't.   First it was the missing form, I finally told him on Friday that he could file. He was planning to come by today to sign his efile authorization form. Now, he is going to be livid when I inform him of this new delay.

So, what do you need to do? 

If you did not obtain a tax credit from the health care website, then just go ahead and file your return as normal - and that is most people.  

If you did obtain the premium credit, then you have no option but to wait. How long? I have no idea.  All I can say is for you to keep logging into the government website for an updated tax form.