DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Providing proof of health insurance to the IRS is the new reality

You Say You Have Health Insurance?
Providing proof to the IRS is the new reality

New for tax year 2014 is the requirement to have health insurance. If you do not have qualified health insurance coverage AND you do not fit into one of the limited exemptions you will need to pay a fine, tax, or as the government calls it, an “individual shared responsibility” payment. So how do you prove you have the required health insurance? It is not a simple thing.

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California - Healthy Workplace Healthy Family Act of 2014 (AB 1522)

California - Healthy Workplace Healthy Family Act of 2014 (AB 1522)


Earlier this year, the California Legislature passed the Healthy Workplace, Healthy Families Act of 2014 (“HFA”) which requires all employers with employees within the State of California, regardless of size, to provide paid sick leave to employees.

Starting January 1, 2015, employers must display a poster created by the Labor Commissioner informing employees of their rights under the HFA.

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July 2014 DiSabatino CPA Newsletter



In this issue:


  • Prepare for the "Claw Back" Credit
    Is a tax surprise of over $1,000 in your future?
  • Taxpayer Bill of Rights
  • In the News. Student Loan Interest Relief?
  • Ideas to Make Homeownership Affordable


The Month of May:


  • July 4th: Independence Day



Happy Independence Day! While we look forward to the fireworks that mark the month, there could be fireworks for millions when the IRS tries to take back health care Premium Tax Credits at the end of the year. If you are using the Health Exchange for your insurance you will want to be aware of this tax risk. There is also news on two other fronts, first the newly announced Taxpayers' Bill of Rights and potential payment relief for those with student loan debt. All this and an article exploring the status of home affordability round out this month's newsletter.

As always, should you know of someone who may benefit from this information please feel free to forward this newsletter to them.

Prepare for the "Claw Back" Credit

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