Health Care Reform

Premium Tax Credit: File Before the Extension Deadline

Well, it’s mid-summer and many taxpayers who have filed an extension are still thinking they have all the time in the world until their October deadline comes. However, if you filed for an extension and also chose to have “advance … read more

Health Coverage Exemption if You Live Outside the U.S.

U.S. persons living outside the U.S. may qualify for the health coverage exemption, meaning you may not have to pay the penalty (The Individual Shared Responsibility Payment) for the months you did not have minimum essential health coverage, as long … read more

Deadline Approaching for Employer ACA Form 1095 Reporting

The IRS extended the Form 1095 information reporting due dates for insurers, self-insuring employers and applicable large employers. The IRS supplied the below chart to help employers understand the upcoming filing deadlines.                 … read more

Reporting Health Insurance Coverage on IRS Tax Forms

The majority of taxpayers have health insurance coverage for all of 2015 and simply check a box on their tax return. For those who don’t, the IRS shared the below hints on reporting your health insurance related information: Form 8965, … read more

Why Did I Get this Form 1095? New ACA Info Statements

This January many individuals will receive a Form 1095 for the first time. Form 1095 is part of the expanding ACA (Affordable Care Act) information reporting necessary to determine if you had required health insurance coverage in 2015: The IRS … read more

Are You Ready to File 1095-B & 1095-C?

Are you an employer with 50 full-time employees (or 50 full-time equivalents)? Do you self-insure medical insurance coverage for employees? If you answered yes, you are likely subject to the new Affordable Care Act reporting requirements for 2015. The complex … read more

Penalties and Relief for the Affordable Care Act

2015 is the first year that the new health care reporting forms are being required to be used to report health care coverage by employers under the Affordable Care Act. These will be due in January of 2016 to report … read more

Overpaying the Affordable Care Act Individual Mandate

According to a report from the National Taxpayer Advocate, more than 300,000 taxpayers overpaid the Individual Shared Responsibility Payment (ISRP) for health insurance on their tax returns processed through the end of April 2015. Most of those taxpayers were charged … read more

Is your small business impacted by the Affordable Care Act?

Most employers have fewer than 50 full-time employees or full-time equivalent employees and are therefore not subject to the employer shared responsibility provision of the Affordable Care Act. If an employer has fewer than 50 full-time employees, including full-time equivalent … read more

New Affordable Care Act Reporting Requirement

Under the Affordable Care Act, applicable large employers –those with 50 or more full-time employees, including full-time equivalent employees – are required to take some new actions. These employers must file information returns with the IRS and also provide statements … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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