2014 Individual Mandate

I’ve been receiving questions about the individual mandate for 2014.

The law states that you may be subject to a fine if you go three consecutive months without medical insurance after March 31, 2014.  If you go without you may face a penalty on your 2014 federal tax return, only if you’re subject to the mandate.

 

Comments

  1. Warren McDonald says:

    I’m getting the same questions as well.
    Just remember that the penalty period occurs AFTER March 31st. Many think that it it applies to January 2014 moving forward. The $95 or 1% of your taxable income, whichever is greater, will be the fine applied toward your taxes.

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