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Individual Mandate penalties for tax year 2014 for those without required health insurance in MA

Categories Tax Tips (Mass)

Summary: TIR 14-3 updates and replaces TIR 14-1, also entitled “Individual Mandate Penalties for Tax Year 2014.” TIR 14-1 was issued to announce the penalty schedule for individuals who fail to comply in 2014 with the requirements to obtain health insurance under the Massachusetts Health Care Reform Act.  TIR 14-3 does not change the penalty schedule for 2014 that was announced in TIR 14-1. The only change from TIR 14-1 is the inclusion of the Federal Poverty Level Standards for 2014.

 Here is the link to MA DOR where you can compute what your penalty could be this year if you do not have the required health insurance.

Target Audience:  Taxpayers filing Form 1, Massachusetts Personal Income Tax Return

 Link to Document: http://www.mass.gov/dor/businesses/help-and-resources/legal-library/tirs/tirs-by-years/2014-releases/tir-14-3.html

 

 

 

 

 

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