Tax tips to keep you informed. Visit our website at www.taxguyofli.com for more free resources. Contact us for a free review of your past 3 years tax returns. Many times deductions were missed and you have $$$ coming your way!
Tuesday, October 21, 2014
Within the Affordable Care Act, are children subject to the individual shared responsibility provision?
Yes. Each child must have minimum essential coverage or qualify for an exemption for each month in the calendar year. Otherwise, the adult or married couple who can claim the child as a dependent for federal income tax purposes will generally owe a shared responsibility payment for the child.
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