Question

For 2017,most US citizens and residents are subject to the ACA individual shared responsibility provisions.Which of...

For 2017,most US citizens and residents are subject to the ACA individual shared responsibility provisions.Which of the following best describes the ACA individual mandate provisions?
1.A taxpayer must have minimum essential coverage for atleast one month in 2017
2. A taxpayer must have minimum essential coverage in every month of 2017 or be subject to the ACA tax penalty
3.A taxpayer must have minimum essential coverage in every month of 2017 or qualifyi for an ACA exemption
4.A taxpayer must have minimum essential coverage in every month of 2017, qualify for an ACA exemption or be subject to the ACA tax penalty

Homework Answers

Answer #1

ANSWER :A taxpayer must have minimum essential coverage in every month of 2017, qualify for an ACA exemption or be subject to the ACA tax penalty. "The individual shared responsibility provision of the Affordable Care Act requires taxpayers to have qualifying health coverage (also known as minimum essential coverage), qualify for a coverage exemption, or make an individual shared responsibility payment when filing their federal income tax return". Individuals who do not maintain minimum essential coverage and are not exempt from the mandate have to pay a penalty for each month of noncompliance with the mandate.

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