CPA Tax Musings: Maintaining Health Insurance Coverage Documentation for the Tax Filing Season

Well, it is 2015.  Now you have a ton of new documents for the 2014 year to maintain for our friend the ACA, especially if you are getting a subsidy from an exchange.  And it is only going to get worse in the future.  See this IRS tip for keeping documents for the new rules:

http://content.govdelivery.com/accounts/USIRS/bulletins/f1c943?reqfrom=share

Keep in mind that next year there will be MORE forms from exchanges and the IRS will actually be able to track a lot more insurance coverage (for 2014 the Service can only access the exchange form 1095-A information, so there may be a lot of questionable reporting this year on 2014 1040′s for insurance coverage.)

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