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We do not file income tax returns because we do not make…

Customer Question
We do not file income...
We do not file income tax returns because we do not make enough money. What do we do with form 1095 B ( Health Coverage) received in the mail from our health insurance company?
Submitted: 2 years ago.Category: Tax
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Answered in 1 minute by:
1/29/2016
Tax Professional: Mark D, Enrolled Agent replied 2 years ago
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,342
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
Verified

Hello, did you receive an insurance subsidy from the government?

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Customer reply replied 2 years ago
No
Tax Professional: Mark D, Enrolled Agent replied 2 years ago

While it sounds you would not need to file, I would still suggest you do as:

- You may be entitled to credits and/or a refund

- It starts the statute of limitations for audit

- Lenders will see a record of filing as not assume one was required and you did not file

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Customer reply replied 2 years ago
No! I wish to terminate this transaction....seem there is a money hole here!!
Tax Professional: Anne, Master Tax Preparer replied 2 years ago
Anne
Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2,439
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
Verified

Hi

I'm Anne. I've been preparing taxes for 27 years.

I know you said you wanted to terminate the transaction, but I didn't want you to leave without knowing what that form really means.

All it means is that you have health insurance from somewhere. Medicare. supplemental, etc.

You do not need to file a return, and you don't need to do anything with that form. It was sent to you because of the Obama Care law, and you may receive one every year . It doesn't change your situation, and you don't have to file anything.

I am not asking to be rated on this question, and you are free to ask for a refund......it's just that I have seen alot of these, and I've seen how concerned receiving that form has made some people. Especially those who do not have to file a return.

Thank you for choosing justanswer.

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Anne
Anne
Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2,439
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Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses

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