Currently the "Individual Shared Responsibility Penalty" in CA is assessed by default. My idea is to make it NOT as default, and instead, make it default to have full year insurance.
Either way, it is the taxpayer and preparer who are responsible to answer the question correctly whether they have insurance or not, but the default should be the most common case. How many of our clients who file tax returns via a tax professional have insurance and do not have insurance?
Same with MA, but it is different. It will not pass if you do not fill out the 1099-HC form.
The alternative idea is to make the input field mandatory. How many of you who forget to check the "have insurance" box and caused 5000+ penalty assessed? I hope it is zero, but I guess it is not.
Thanks for the idea to make CA "Individual Shared Responsibility Penalty" NOT as default . We are changing the status to "Open for voting" since it has been around for over 30 days and no longer considered "New".
Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular.>> ProConnect Idea Exchange
If you have any questions on the life cycle of an idea, check out our Idea Exchange Getting Started Guide for more information.
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.