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Is the ACA tax penalty gone?

POSTED BY: 6IXSTRINGJACK
UPDATED: Tuesday, March 13, 2018 15:57
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VIEWED: 897
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Tuesday, March 13, 2018 3:57 PM

6IXSTRINGJACK


I've seen differing stories out there about the ACA tax penalty. I won't say "fake news", but it's confusing to say the least.


What I'm walking away with now is that the penalty is still in effect this year (2018 taxes payable 2019), but in 2019 onward there will be no more ACA tax penalty for individuals who are uninsured. Is that right?


This is a penalty of $695 or 2.5% of your income.



I figured this would be a good thing to discuss because it seems that a lot of people immediately cancelled their health coverage when hearing that this was cancelled with the new tax bill, but they're going to be in for a surprise when they go to pay their 2018 taxes in 2019.

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