The IRS has to announce some important information to taxpayers who filed an extension for the tax year 2014. the deadline for filing your 2014 federal return is October 15, 2015, but you can file earlier.
If you have purchased a health insurance coverage through a contract sponsored by the government health insurance and want to keep your advanced tax credit premiums for 2016 you have to your federal tax return in 2014 July 31, 2015 for inclusion on the list of IRS taxpayers eligible for the credit.
This tax credit can help make buying a health insurance coverage more affordable for people with moderate incomes
in general, you may qualify for the tax credit on premiums if all the following conditions .:
- you must purchase coverage through a market, and
- You are not eligible for government programs such as Medicare and Medicaid, and
- You do not have access to insurance sponsored by employers or insurance provided by the employer covers less 60% of covered benefits OR your premiums are more than 9.5% of your annual household income, and
- your annual household income is between 100% and 400% of the federal poverty level (percentages may vary by state), and
- you file a tax return separately Married filing (unless you meet the criteria allowing certain victims of domestic violence and abandonment of spouse to claim the premium tax credit using the deposit Married filing separately status), and
- You can not be claimed as a dependent by another person.
Open Enrollment for 2016
open enrollment 2016 buy Medicare coverage begins on 1 November 2015 and ends January 31, 2016.
Healthcare .gov or applicable market the state will use the information provided by the IRS to determine your tax credit on advanced premiums for health coverage from January 1, 2016.
important dates to keep to mind
Here are the important dates for filing your federal return and coverage of health in 2014:
July 31, 2015: If you have filed an extension, you must file your 2014 federal return final on that date in order to keep your tax credit on Advanced premiums for 2016.
October 15, 2015: If you not to buy health coverage through the insurance market disease, or you know that you are not eligible for the tax credit on premiums, you can file your Federal 2014 final declaration later on October 15 e
November 1, 2015: registration open for 2016 market coverage of health care sponsored by the government starts
January 1, 2016 :. Coverage can begin earlier for planes being purchased during this open enrollment period
January 31, 2016: .. 2016 ends open enrollment
for more information, visit IRS.gov .
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