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"Silently" ignore uninsured person penalty?

February 17, 2017 • A. T. 'Alx' Smith • Log In to Post Comments

Has anyone heard anything from a legitimate source, any validation on this item my client brought to me that people who chose to not purchase insurance can 'ignore' the penalty on their returns and it will be 'silently' allowed???


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  See this IRS notice from 15-Feb-2017:  https://www.irs.gov/tax-professionals/aca-information-center-for-tax-professionals

Thank you very much!  I have a client who wants me to disregard but I cannot override the penalty unless I report "all insured" and that would not be accurate so the question is, do I advise the client they 'may choose' to exclude the penalty when paying the balance owing?  Any suggestions?

Drake has updated their software to accommodate this IRS change.  It is likely other programs will be similarly updated soon.  The taxpayer should be cautioned that this may create problems in the future.  For Drake's explanation, see http://kb.drakesoftware.com/Site/Browse/14579/20170209-Important-Update-Individual-Shared-Responsibility-Payment

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