Mom just got her Nov. Consumer Report. Mine should arrive any day. Theres a column in there about getting ready to prove you have health insurance for the 2014 tax returns.
Better save that article in a very safe place. Theres information on a form our employers will be sending us confirming insurance coverage.
Better buckle up now for one heck of a horrific mess thats coming. As if filing taxes wasn’t already stressful enough.
The CR article should be helpful in knowing whats coming. What verification paperwork to expect from our employer. Any information from a trusted source like CR is helpful.
Not seeing the problem here. One more piece of paper to attach, or not even that for those of us who e-file. I’ll just have to type in a couple of numbers from my insurance card and go on my merry way. No huhu.
The horrific mess will be on the IRS’ end. Swamped with this new verification process that has been thrust upon them. I expect delays in tax refunds the first couple years until the bugs get worked out.
I usually just throw the CR on my coffee table. But this time that Nov issue is important. CR has a lot of good business and tax tips in addition to product reviews.
Luckily I already suffered through this when Massachusetts implemented Romneycare several years ago. Just so complicated!! My insurance company sent me a form, with a letter indicating exactly what it was for. And my state tax forms indicated where to copy the 2 pieces of information, and where to staple it. The first few years were pretty horrific - I kept putting a staple through my thumb by accident. I finally was able to move to e-filing my state taxes, but still managed to staple the form to my monitor.
I’d be glad to answer any questions for anyone confused about the procedure about taking a form from one envelope, copying some information, and stapling it to another form. Do you think I should start a “Ask the guy who filed Massachusetts Schedule HC” thread?
Because the tax code so seldom changes that the IRS is completely out of its element when it comes to reacting to changes, right? They’ll never see this coming. A change! A new form! The IRS has never seen THIS kind of thing before!
It can be even worse than that. My Rhode Island insurance had to figure out a way to send an envoy to Romney himself, deep within the heart of Masshole territory. After losing several messengers to Boston traffic, they eventually figured out that the United States Postal Service had trained professionals with experience in this very task. Now they pay a small ransom of forty-six cents to a brave postal carrier which brought the MA-1099-HC form to my very doorstep.
And I admit that I might be wrong in this prediction…but I can’t see this as being any kind of big deal at all. It’s far more complicated to report the multiple pieces of information from a W-2 than the presumably binary information: “I have health care that meets the requisite standards / Check YES or NO.”