Irs Form 13844 Topics 2025

Good morning everyone. This is Med City CPA, and I am creating a two-minute video on a tax topic. Hopefully, this will help everyone out. I am going through the 1040 instructions and pulling out information that people might find useful. I am creating a two-minute series, so if you find this interesting, please hit subscribe. It would be very helpful for me as I am trying to get this channel up and going. Today, I am talking about the Affordable Care Act and what you need to know regarding the reconciliation of advance payments of the premium tax credit. Essentially, if you bought health insurance through the marketplace and advance payments of premiums were made to your insurance company, you must attach form 89-62 to your return to reconcile the advance payment to your credit. This is where the form 1095-a comes in. They are supposed to give it to you by January 31st, 2019, and you'll use it to fill out the form 89-62. Now, let's discuss the responsibility for 2018 months. You need to report your health care coverage or make a shared payment or payment of responsibility if you're exempt. For any month in 2018 where you or your spouse, if filing jointly, or anyone else you can or do claim as a dependent didn't have coverage and doesn't qualify for coverage, you can claim any part-year exemptions or exemption for specific members of your household. I'm looking at the form 1040 instructions here, and I always get a lot of questions about what is this 1095. Well, it's for your health care coverage. Okay, now I'm almost out of time. We are less than 15 seconds here. This is a two-minute tax topic. Please, for the love of God, hit subscribe. Okay, now I'm out...