VALLEY HEAD ALABAMA
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Latest News - VALLEY HEAD ALABAMA

Men's Basketball Weekly Release - February 27


The Panthers are winners of their last five Texas Southern head coach Mike Davis is a Fayette, Alabama native and returns to the state ...
statistical categories in the league Three Mississippi Valley State players are all averaging doubele-figures ...

Blount 56, Shades Valley 48: Cierra Johnson scores 19 as Leopards overcome late deficit


At the 5:59 mark of the fourth quarter, the Shades Valley girls basketball team appeared to be in ...
“I think we had the mindset of just not wanting to go home today,” said Blount head coach Janel Williams. “We were in the same situation against ...

County squads have highs, lows at Central Alabama Classic


A trio of Tallapoosa County teams wrapped up play in this weekend’s annual Central Alabama ...
Valley, the Horseshoe Bend Lady Generals fell 15-3 to Prattville Christian Friday night and then lost 9-1 to Beauregard Saturday. Bernie Robidart, head coach ...

Head of Arab Gulf council visits Yemen's embattled president


Top aides to President Abed Rabbo Mansour Hadi say Gulf Cooperation Council Secretary-General Abdullatif al-Zayani visited him in the southern ...
He said the Houthis warned them that if they head to Aden, their party risks being dissolved.

Madonna: Hit her head, got whiplash in Brits stage tumble


He was shot one time in the head at close range.Deonta Deshun Summers, 21, from Valley; Demet...
A Valley, Alabama man was arrested over the weekend after a grand jury indicted him on murder charges. According to the Valley Police Department, David Jorden ...

Football: Chet Parlavecchio expected to be named Passaic Valley's next head coach


He returned to Passaic Valley as a defensive coordinator to then-head coach Al Cappello in 2009 and helped the 2009 Hornets advance to the NJSIAA, North 2, Group 3 final at Giants Stadium against West Morris Central. When Cappello resigned after the 2011 ...

3 men charged in 2013 slaying in east Alabama


(AP) - Police say three east Alabama men have been indicted in the killing ...
Police say Harper was found dead of a single gunshot to the head outside his home in Valley on Nov. 10, 2013. Newell is jailed on other charged in Lee County, and both Summers ...

College Football's Top Head Coaching Rivalries in 2015


What makes for a great head coaching rivalry? Mainly ...
Maryland's captains refused to shake hands with Penn State's captains in November. The Terps won in Happy Valley on a late field goal, and afterward Edsall went on live TV and declared, "Let the ...

Driver in Jones Valley slide speaks on wreck


A video of trucks sliding on ice on Jones Valley Drive shows a chilling sound that no car-owner wants to hear. The sound of cars colliding, falling victim to ice, gravity, and other vehicles. One person in the video is seen putting his hands on his head ...

Squamish Valley Music Festival 2015 Lineup: Drake, Sam Smith, Mumford and Sons and More


The diverse lineup will also feature acts across genres like the Alabama Shakes ...
Squamish Valley Music Festival will take place from August 7-9. Passes go on sale Thursday, Feb 26 at 10 a.m. Head to the festival's website for more information on ...

No Quit In Weekend Winter Weather


By Carol Erickson PHILADELPHIA (CBS) — So apparently the weather has a calendar, and when it sees that it is the weekend, it brings on some kind of messy weather event. Every single weekend, the same…

But You Should Have Read That Post in My Head


So there I was trying to write a blog post when it suddenly became clear: what I composed in my head while I was working (it’s OK, it’s the kind of job I can daydream and do properly) does not necess…

It’s All in Your Head


When I first arrived in South Dakota, the weather was downright scary.  Tornadoes and storms that rattled my nerves enough to make me consider, if just for a second, that maybe I’d landed in the wrong…

West Valley City police to begin recording all interactions with citizens by March 2


WEST VALLEY CITY, Utah — The West Valley City Police Department is arming its officers with body cameras this week and training with the technology is underway. Police officials say that by March 2, 1…

Why women are undervalued in Silicon Valley


There's a vast amount of value waiting to be unlocked in Silicon Valley, and it's not hiding under the Tahoe hills in veins of silver like the Comstock lode. Today's new billions are no longer dug out…

“DC As Fuck” is the LATEST in Hipster/Gentrification Attacks on “Chocolate City Rocks”


“DC As Fuck” is the latest in Hipster/Gentrification Counter AttackS to My “Chocolate City Rocks” brand Initiative. Molly Ruland has capitalized on the unfortunate divisions between a small group of …

WVC man in last month’s hammer, knife attack dies


WEST VALLEY CITY, Utah — A 68-year-old man attacked by a man wielding a knife and hammer last month has died, police confirmed Monday. On Jan. 28, West Valley police say Leslie Beus was in his front …

MOZAMBIQUE YEAR IN REVIEW 2011


*MOZAMBIQUE YEAR IN REVIEW 2011* GOVERNMENT Prime Minister condemns seasonal price speculation Dredging work concludes at Quelimane Port   BUSINESS Aquapesca reports average prawn exports to Eu…

St. Patrick’s Day – Celebrate with a Green Beer in Wine Country


There is a lot more to Napa Valley than wine. In fact, Sonoma is known for having its share of quality pubs and breweries too. If you plan to visit wine country for St. Patrick’s Day, you are sure to …

#Poetry Friday: Why Students Cannot Appreciate the Winter of 1778 When They Live in San Diego


During a pop-in visit with the 8th grade social studies teachers last week, the discussion turned to the growing number of interruptions to the school calendar because of the snow cancellations and de…




SPECIAL INFORMATION FOR VALLEY HEAD

Earned Income Tax Credit Awareness Day in VALLEY HEAD ALABAMA

The U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI) today released a new Quarterly Report detailing how the program continues to help small businesses grow and create jobs. Since the beginning of the program, the Treasury Department has disbursed more than $1.1 billion to participating states.

The Internal Revenue Service is partnering with community-based organizations across the country to promote Earned Income Tax Credit Awareness Day, an effort to alert millions of low and moderate-income workers who may be missing out on a significant tax credit that can be as much as $6,000.

Millions of workers who earned $52,427 or less last year may qualify for EITC for the first time in 2015, making awareness of the credit critical. About a third of the people eligible for EITC fluctuate each year based on changes to their marital, parental and financial status. All across the United States, local officials and community organizations are holding events highlighting this key benefit.

“About four out of five eligible workers and families get the credit they earned. That leaves millions missing EITC every year,” said IRS Commissioner John Koskinen. “It’s an important credit and one of the government’s best tools to fight poverty.”

Last year, almost 28 million eligible workers and families received $66 billion total in EITC, with an average EITC amount of $2,400.

The IRS website is a valuable first stop to help taxpayers get it right this filing season, from information on claiming the EITC, to learning about the Affordable Care Act (known as the health care law), to finding free tax help. The IRS encourages everyone to use the EITC Assistant on IRS.gov/eitc, an interactive tool to find out if they are eligible for the credit. The IRS website also provides helpful information on the health care law and how it may affect tax returns at IRS.gov/aca. There is also an interactive tool that helps individuals determine if they are eligible for the premium tax credit. And qualified taxpayers may also find a free tax return preparation site on IRS.gov/vita.

The amount of EITC varies depending on income, family size and filing status. Those who work for someone else or those who run a business or farm and who earned $52,427 or less during 2014 could receive larger refunds if they qualify for the EITC. This could mean up to $496 in EITC for people without children, and a maximum credit of up to $6,143 for those with three or more qualifying children.

The EITC is refundable. This means those eligible may get a refund from the IRS even if they owe no tax or had no taxes withheld from their paycheck.

Workers potentially eligible to claim the credit should visit IRS.gov/eitc to learn if they qualify, how to claim the credit and more. The EITC Assistant will also determine their filing status, if they have a qualifying child or children and estimate the amount of the EITC they could get. If an individual doesn’t qualify for EITC, the Assistant explains why and a summary of the results can be printed.

Get the Credit — How to Claim the EITC

To get the EITC, workers must file a tax return, even if they are not legally required to file, and specifically claim the credit. Free tax help is available to those eligible for the EITC:

The Internal Revenue Service is partnering with community-based organizations across the country to promote Earned Income Tax Credit Awareness Day, an effort to alert millions of low and moderate-income workers who may be missing out on a significant tax credit that can be as much as $6,000.

Millions of workers who earned $52,427 or less last year may qualify for EITC for the first time in 2015, making awareness of the credit critical. About a third of the people eligible for EITC fluctuate each year based on changes to their marital, parental and financial status. All across the United States, local officials and community organizations are holding events highlighting this key benefit.

“About four out of five eligible workers and families get the credit they earned. That leaves millions missing EITC every year,” said IRS Commissioner John Koskinen. “It’s an important credit and one of the government’s best tools to fight poverty.”

Last year, almost 28 million eligible workers and families received $66 billion total in EITC, with an average EITC amount of $2,400.

The IRS website is a valuable first stop to help taxpayers get it right this filing season, from information on claiming the EITC, to learning about the Affordable Care Act (known as the health care law), to finding free tax help. The IRS encourages everyone to use the EITC Assistant on IRS.gov/eitc, an interactive tool to find out if they are eligible for the credit. The IRS website also provides helpful information on the health care law and how it may affect tax returns at IRS.gov/aca. There is also an interactive tool that helps individuals determine if they are eligible for the premium tax credit. And qualified taxpayers may also find a free tax return preparation site on IRS.gov/vita.

The amount of EITC varies depending on income, family size and filing status. Those who work for someone else or those who run a business or farm and who earned $52,427 or less during 2014 could receive larger refunds if they qualify for the EITC. This could mean up to $496 in EITC for people without children, and a maximum credit of up to $6,143 for those with three or more qualifying children.

The EITC is refundable. This means those eligible may get a refund from the IRS even if they owe no tax or had no taxes withheld from their paycheck.

Workers potentially eligible to claim the credit should visit IRS.gov/eitc to learn if they qualify, how to claim the credit and more. The EITC Assistant will also determine their filing status, if they have a qualifying child or children and estimate the amount of the EITC they could get. If an individual doesn’t qualify for EITC, the Assistant explains why and a summary of the results can be printed.

Get the Credit — How to Claim the EITC

To get the EITC, workers must file a tax return, even if they are not legally required to file, and specifically claim the credit. Free tax help is available to those eligible for the EITC:

  • Free File on IRS.gov. Free brand-name tax software walks people through a question and answer format to help them prepare their returns and claim every credit and deduction for which they are eligible. Free File also provides online versions of IRS paper forms, an option called Free File Fillable Forms which is best suited for taxpayers comfortable preparing their own returns.

  • Free tax preparation sites. EITC-eligible workers can seek free tax preparation at thousands of Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites. Taxpayers can locate the nearest site using a search tool on IRS.gov or through the IRS2go smartphone application.

    It is important for taxpayers to bring along all the required documents and information to make sure they get the EITC they deserve. Also, those who bought coverage through the Health Insurance Marketplace should receive Form 1095-A, Health Insurance Marketplace Statement, from their Marketplace in early February. It’s important to also bring the Form 1095-A to the volunteer site. Any taxpayer who does not receive it by early February should contact their Marketplace, not the IRS. The IRS will not have access to the information on the form.

Like last year, the IRS expects to issue more than nine out of 10 refunds within 21 days. The IRS reminds taxpayers that the fastest way to get a refund is to e-file their tax return and choose direct deposit. It takes longer to process paper returns. Because of budget cuts resulting in a smaller staff, it will likely take an additional week or more to process paper returns, meaning that those refunds are expected to be issued in seven weeks or more. Taxpayers can track the status of their refund with the “Where’s My Refund?” tool available on IRS.gov or on IRS2go.

Similar Benefits Available Through the Health Care Law

The Affordable Care Act requires that a taxpayer and each member of his or her family have qualifying health insurance coverage for each month of the year, qualify for an exemption from the coverage requirement, or make an individual shared responsibility payment when filing a federal income tax return.

Premium Tax Credits: If taxpayers bought coverage through the Health Insurance Marketplace, they should receive Form 1095-A, Health Insurance Marketplace Statement from their Marketplace by early February. They should save this form because it has important information needed to complete their tax returns. 

If a taxpayer is expecting to receive Form 1095-A and has not received it by early February, they should contact the Marketplace where the coverage was purchased. Due to the fact that the IRS does not have this information, it is recommended that taxpayers contact the appropriate marketplace.

Anyone who benefited from advance payments of the premium tax credit must file a federal income tax return. The taxpayer will need to reconcile those advance payments with the amount of premium tax credit they’re entitled to based on actual income. As a result, some people may see a smaller or larger tax refund or tax liability than they were expecting. When filing their return, taxpayers will use IRS Form 8962, Premium Tax Credit (PTC), to calculate the premium tax credit and reconcile the credit with any advance payments.

Reporting requirements: Most taxpayers will simply check a box on their tax return to indicate that each member of their family had qualifying health coverage for the whole year. No further action is required. Qualifying health insurance coverage includes coverage under most, but not all, types of health care coverage plans. Taxpayers can use the chart on IRS.gov/aca to find out if their insurance counts as qualifying coverage.  

Exemptions: A taxpayer may be eligible to claim an exemption from the requirement to have coverage. If eligible for an exemption, the taxpayer will need to complete the new IRS Form 8965, Health Coverage Exemptions and attach it to their return. The individual must apply for some exemptions through the Health Insurance Marketplace.  However, most of the exemptions are easily obtained from the IRS when filing a tax return.  

Individual Shared Responsibility Payment: If an individual does not have qualifying coverage or an exemption for each month of the year, they will need to make an individual shared responsibility payment when filing their return for choosing not to purchase coverage. Examples and information about figuring the payment are available on the IRS Calculating the Payment page. More information about the Affordable Care Act and the 2014 income tax return is available at IRS.gov/aca.

Get It Right

Taxpayers are responsible for the accuracy of their tax return even if someone else preparers it for them. The rules for EITC are complicated. The IRS urges taxpayers to seek help if they are unsure of their eligibility, whether from a paid tax professional or at a free tax return preparation site. Deliberate errors can have lasting impact on future eligibility to claim EITC and leave taxpayers with a penalty.

[23]

VALLEY HEAD ALABAMA tspan:3m VALLEY HEAD ALABAMA




Giving Every Young Person in VALLEY HEAD ALABAMA a Path to Reach Their Potential

Our nation’s most basic duty is to ensure that every child has the chance to fulfill his or her potential. This isn’t the responsibility of one individual or one neighborhood: it’s up to all of us to pave these paths of opportunity so that young people — regardless of where they grow up — can get ahead in life and achieve their dreams.

That’s why My Brother’s Keeper (MBK) is such an important initiative. Launched by President Obama last year, MBK brings communities together to ensure that all youth — including boys and young men of color — can overcome barriers to success and improve their lives. I got to see this work up close during a recent trip to Oakland, California. I joined Mayor Libby Schaaf, City Council President Lynette McElhaney, and other stakeholders for a conversation about efforts that are making a difference in the lives of local youth.

One of the participants was a teenager named Edwin Manzano. The son of a hard-working single parent, Edwin found encouragement and support at the East Oakland Youth Development Center (EOYDC). Thanks in part to the academic and mentoring services offered by the EOYDC, Edwin will become the first member of his family to attend college when he begins his studies this fall at San Francisco State University.

Edwin is grateful for the opportunities that EOYDC afforded him. “Everyone needs a support system,” he says. That’s true whether you are a teenager or HUD Secretary. I was lucky when I was growing up on the West Side of San Antonio. Although it was a modest community in terms of resources, it was rich with folks who took an interest in my future. I had family members, teachers — and even policymakers — who paved a path that allowed me and other young people like me to succeed.

Unfortunately, not every child is as fortunate. That’s why My Brother’s Keeper is so close to my heart. The future of every young person in America should be determined by their heart, their mind and their work ethic. It should never be determined by their zip code.

In Oakland, I talked with 17 young people who have big hopes and aspirations for the future. It’s in our nation’s interest to help them achieve their goals. And we’re committed to doing our part at HUD.

For example, we’ve introduced a Jobs-Plus pilot program that will provide public housing residents in eight cities with intensive employment training, rent incentives and community building focused on work and economic self-sufficiency.

We’re also working on a broadband initiative to ensure that students living in HUD-assisted households will benefit from the life-changing opportunities available through high-speed internet. This project will provide the access to online resources that young people need to succeed in the 21st century global economy.

On the housing front, we expect the recent expansion of our Rental Assistance Demonstration (RAD) initiative to aid HUD-assisted properties in raising billions of dollars in private sector investment — funding that will be used to secure our nation’s affordable housing future. And recently, our Federal Housing Administration lowered its Mortgage Insurance Premiums to make homeownership more affordable for responsible families, helping them put down roots and build wealth for the future.

But I know HUD alone won’t solve the issues facing America’s youth. These challenges require our Department to maintain longstanding, effective partnerships with other federal agencies and key stakeholders. Most importantly, President Obama understands that My Brother’s Keeper will only succeed if local leaders take his call to action into their own hands.

Folks in Oakland are stepping up to answer this call. During the Community Conversation, I spoke with leaders from Oakland’s nonprofits, philanthropic institutions, and faith-based organizations that are putting our young people on the path to success. Groups like the East Oakland Youth Development Center, the East Bay Foundation, and the Allen Temple Baptist Church are using promising and proven approaches to make a real difference in their communities.

This kind of work is happening all across the nation and will benefit generations of Americans. We’ve got to keep it going by continuing to support our young people. When they succeed, our nation grows stronger, and our future becomes brighter. And by giving everyone an opportunity to reach their goals, we can ensure that the 21st century is another American century.

[25]



Earned Income Tax Credit Awareness Day in VALLEY HEAD ALABAMA

The U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI) today released a new Quarterly Report detailing how the program continues to help small businesses grow and create jobs. Since the beginning of the program, the Treasury Department has disbursed more than $1.1 billion to participating states.

The Internal Revenue Service is partnering with community-based organizations across the country to promote Earned Income Tax Credit Awareness Day, an effort to alert millions of low and moderate-income workers who may be missing out on a significant tax credit that can be as much as $6,000.

Millions of workers who earned $52,427 or less last year may qualify for EITC for the first time in 2015, making awareness of the credit critical. About a third of the people eligible for EITC fluctuate each year based on changes to their marital, parental and financial status. All across the United States, local officials and community organizations are holding events highlighting this key benefit.

“About four out of five eligible workers and families get the credit they earned. That leaves millions missing EITC every year,” said IRS Commissioner John Koskinen. “It’s an important credit and one of the government’s best tools to fight poverty.”

Last year, almost 28 million eligible workers and families received $66 billion total in EITC, with an average EITC amount of $2,400.

The IRS website is a valuable first stop to help taxpayers get it right this filing season, from information on claiming the EITC, to learning about the Affordable Care Act (known as the health care law), to finding free tax help. The IRS encourages everyone to use the EITC Assistant on IRS.gov/eitc, an interactive tool to find out if they are eligible for the credit. The IRS website also provides helpful information on the health care law and how it may affect tax returns at IRS.gov/aca. There is also an interactive tool that helps individuals determine if they are eligible for the premium tax credit. And qualified taxpayers may also find a free tax return preparation site on IRS.gov/vita.

The amount of EITC varies depending on income, family size and filing status. Those who work for someone else or those who run a business or farm and who earned $52,427 or less during 2014 could receive larger refunds if they qualify for the EITC. This could mean up to $496 in EITC for people without children, and a maximum credit of up to $6,143 for those with three or more qualifying children.

The EITC is refundable. This means those eligible may get a refund from the IRS even if they owe no tax or had no taxes withheld from their paycheck.

Workers potentially eligible to claim the credit should visit IRS.gov/eitc to learn if they qualify, how to claim the credit and more. The EITC Assistant will also determine their filing status, if they have a qualifying child or children and estimate the amount of the EITC they could get. If an individual doesn’t qualify for EITC, the Assistant explains why and a summary of the results can be printed.

Get the Credit — How to Claim the EITC

To get the EITC, workers must file a tax return, even if they are not legally required to file, and specifically claim the credit. Free tax help is available to those eligible for the EITC:

The Internal Revenue Service is partnering with community-based organizations across the country to promote Earned Income Tax Credit Awareness Day, an effort to alert millions of low and moderate-income workers who may be missing out on a significant tax credit that can be as much as $6,000.

Millions of workers who earned $52,427 or less last year may qualify for EITC for the first time in 2015, making awareness of the credit critical. About a third of the people eligible for EITC fluctuate each year based on changes to their marital, parental and financial status. All across the United States, local officials and community organizations are holding events highlighting this key benefit.

“About four out of five eligible workers and families get the credit they earned. That leaves millions missing EITC every year,” said IRS Commissioner John Koskinen. “It’s an important credit and one of the government’s best tools to fight poverty.”

Last year, almost 28 million eligible workers and families received $66 billion total in EITC, with an average EITC amount of $2,400.

The IRS website is a valuable first stop to help taxpayers get it right this filing season, from information on claiming the EITC, to learning about the Affordable Care Act (known as the health care law), to finding free tax help. The IRS encourages everyone to use the EITC Assistant on IRS.gov/eitc, an interactive tool to find out if they are eligible for the credit. The IRS website also provides helpful information on the health care law and how it may affect tax returns at IRS.gov/aca. There is also an interactive tool that helps individuals determine if they are eligible for the premium tax credit. And qualified taxpayers may also find a free tax return preparation site on IRS.gov/vita.

The amount of EITC varies depending on income, family size and filing status. Those who work for someone else or those who run a business or farm and who earned $52,427 or less during 2014 could receive larger refunds if they qualify for the EITC. This could mean up to $496 in EITC for people without children, and a maximum credit of up to $6,143 for those with three or more qualifying children.

The EITC is refundable. This means those eligible may get a refund from the IRS even if they owe no tax or had no taxes withheld from their paycheck.

Workers potentially eligible to claim the credit should visit IRS.gov/eitc to learn if they qualify, how to claim the credit and more. The EITC Assistant will also determine their filing status, if they have a qualifying child or children and estimate the amount of the EITC they could get. If an individual doesn’t qualify for EITC, the Assistant explains why and a summary of the results can be printed.

Get the Credit — How to Claim the EITC

To get the EITC, workers must file a tax return, even if they are not legally required to file, and specifically claim the credit. Free tax help is available to those eligible for the EITC:

  • Free File on IRS.gov. Free brand-name tax software walks people through a question and answer format to help them prepare their returns and claim every credit and deduction for which they are eligible. Free File also provides online versions of IRS paper forms, an option called Free File Fillable Forms which is best suited for taxpayers comfortable preparing their own returns.

  • Free tax preparation sites. EITC-eligible workers can seek free tax preparation at thousands of Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites. Taxpayers can locate the nearest site using a search tool on IRS.gov or through the IRS2go smartphone application.

    It is important for taxpayers to bring along all the required documents and information to make sure they get the EITC they deserve. Also, those who bought coverage through the Health Insurance Marketplace should receive Form 1095-A, Health Insurance Marketplace Statement, from their Marketplace in early February. It’s important to also bring the Form 1095-A to the volunteer site. Any taxpayer who does not receive it by early February should contact their Marketplace, not the IRS. The IRS will not have access to the information on the form.

Like last year, the IRS expects to issue more than nine out of 10 refunds within 21 days. The IRS reminds taxpayers that the fastest way to get a refund is to e-file their tax return and choose direct deposit. It takes longer to process paper returns. Because of budget cuts resulting in a smaller staff, it will likely take an additional week or more to process paper returns, meaning that those refunds are expected to be issued in seven weeks or more. Taxpayers can track the status of their refund with the “Where’s My Refund?” tool available on IRS.gov or on IRS2go.

Similar Benefits Available Through the Health Care Law

The Affordable Care Act requires that a taxpayer and each member of his or her family have qualifying health insurance coverage for each month of the year, qualify for an exemption from the coverage requirement, or make an individual shared responsibility payment when filing a federal income tax return.

Premium Tax Credits: If taxpayers bought coverage through the Health Insurance Marketplace, they should receive Form 1095-A, Health Insurance Marketplace Statement from their Marketplace by early February. They should save this form because it has important information needed to complete their tax returns. 

If a taxpayer is expecting to receive Form 1095-A and has not received it by early February, they should contact the Marketplace where the coverage was purchased. Due to the fact that the IRS does not have this information, it is recommended that taxpayers contact the appropriate marketplace.

Anyone who benefited from advance payments of the premium tax credit must file a federal income tax return. The taxpayer will need to reconcile those advance payments with the amount of premium tax credit they’re entitled to based on actual income. As a result, some people may see a smaller or larger tax refund or tax liability than they were expecting. When filing their return, taxpayers will use IRS Form 8962, Premium Tax Credit (PTC), to calculate the premium tax credit and reconcile the credit with any advance payments.

Reporting requirements: Most taxpayers will simply check a box on their tax return to indicate that each member of their family had qualifying health coverage for the whole year. No further action is required. Qualifying health insurance coverage includes coverage under most, but not all, types of health care coverage plans. Taxpayers can use the chart on IRS.gov/aca to find out if their insurance counts as qualifying coverage.  

Exemptions: A taxpayer may be eligible to claim an exemption from the requirement to have coverage. If eligible for an exemption, the taxpayer will need to complete the new IRS Form 8965, Health Coverage Exemptions and attach it to their return. The individual must apply for some exemptions through the Health Insurance Marketplace.  However, most of the exemptions are easily obtained from the IRS when filing a tax return.  

Individual Shared Responsibility Payment: If an individual does not have qualifying coverage or an exemption for each month of the year, they will need to make an individual shared responsibility payment when filing their return for choosing not to purchase coverage. Examples and information about figuring the payment are available on the IRS Calculating the Payment page. More information about the Affordable Care Act and the 2014 income tax return is available at IRS.gov/aca.

Get It Right

Taxpayers are responsible for the accuracy of their tax return even if someone else preparers it for them. The rules for EITC are complicated. The IRS urges taxpayers to seek help if they are unsure of their eligibility, whether from a paid tax professional or at a free tax return preparation site. Deliberate errors can have lasting impact on future eligibility to claim EITC and leave taxpayers with a penalty.

[23]








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