Portal Uploads: ***Important*** Information You Need to Know

Before you upload your documents to the portal this tax season, take a moment to make sure you have collected everything we’re going to need to process your return. We keep a log of client upload notifications, and process them in the order they are received, provided that we have all of the necessary documentation. If information is missing and/or if we receive multiple notifications of uploads to your folder, you will be required to notify us when the FINAL upload has been submitted. This will allow us to log you in as received and begin processing your returns.

One upload per client ensures that we can keep returns moving through as quickly and efficiently as possible. Thank you for helping us continue our commitment to excellence in customer service!

Remember: Don’t file your taxes until all of your 2018 health insurance tax forms have been received

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The Mass Health Connector will send Form 1095-A to members by the end of January. Those insured through the Health Connector should wait to get a Form 1095-A before filing their federal tax return.

If you had a 2018 ConnectorCare plan, or a monthly tax credit to lower your premiums in 2018, you must file a federal income tax return.Filing is a requirement even if you normally don’t file a federal tax return because you have no income or your income is low.

What is Form 1095-A?

Form 1095-A provides the following information for Health Connector members

  • Months covered by the Health Connector
  • How much tax credit was applied to monthly premiums in 2018
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Form 1095-A has information needed to answer questions for Form 8962 when you file a federal tax return. Form 8692 tells the IRS if you got the correct amount of tax credit in 2018.  For more information, you can visit the Mass health connector website here.

Tax Year Organizers: Keep an Eye Out for the E-mail

Our only automated delivery method for organizers this year will be via the portal, though we will still make hard copies available to our clients by special request.

You should keep an eye on your inbox for an e-mail with a link to the portal where you can retrieve your organizer. If you do not have an e-mail on file with us, or would prefer to receive a hard copy mailed to you, you will need to call our office at (781) 337-8788 to make the request.

As always, we are happy to accommodate hard copy requests, but bear in mind that this may cause a delay in receiving your organizer, and consequently in processing your return.

Deductible Mileage Rates Increase for 2019

The optional standard mileage rates taxpayers use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes are going up for 2019. Keep in mind, though, that there are also new rules to consider under the Tax Cuts and Jobs Act, and not everyone can deduct these expenses.  

Notably, for self-employed business owners there will be an increase to 58 cents per mile for cars, vans, pickups, or panel trucks used for business.The IRS has issued Notice 2019-02, available here, which details all of the new rates.

The notice also provides the amount taxpayers must use in calculating reductions to basis for vehicle depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.

An overview of the recently issued notice, including eligibility limitations and can be found on the official IRS website here.

IRS: Tax Filing Season Won’t Be Delayed by Government Shutdown

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According to Ken Corbin, the commissioner of the IRS’s Wage and Investment division, the IRS will start the tax filing season on time in spite of the agency being shut down as Congress negotiates a government funding deal.

“The start of the filing season hasn’t yet been announced, but the agency is ‘tracking very well’ for it to begin in late January or early February, as is typical,” said Corbin. The agency will announce a start date after it has completed testing all systems in compliance with the Tax Cuts and Jobs Act. When the government shuts down, “the agency can still have ‘critical staff’ work to complete tasks required to launch the filing season,” he said.

If anything should change, we’ll be sure to keep you informed.