IRS issues final regulations on tax for health care mandate

11/7/2013 | Journal of Accountancy online · Tax Adviser, The

The Internal Revenue Service has issued the final rules on the penalty that will be imposed on individuals who fail to acquire minimum health care coverage. The regulations cover the requirement of maintaining coverage, the definition of minimum essential coverage, exemptions, computing the amount of the payment, and administration and procedure. The regulations apply to months beginning after Dec. 31 when the penalty first applies.

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Journal of Accountancy online · Tax Adviser, The

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