J R Sandoval, EA

Once again, those taxpayers who purchased medical insurance coverage through the state like Covered California for those living in California will need to bring form 1095-A in order to complete their tax return. Covered California usually mails the forms by the end of January or makes them available in its website for those who have an online account. Las personas que tuvieron seguro medico a traves de Covered California en el 2015 deben traer la forma 1095-A para la preparacion de sus declaraciones. Dicha forma la envia el estado por correo al final de Enero o pueden bajarla en el sitio de internet si tienen cuenta en linea.

The IRS will begin accepting returns on January 19, 2016. My office is now open Monday to Friday from 9 am to 7 pm and Saturdays from 9 am to 4 pm. El IRS empezara a recibir declaraciones de impuestos el 19 de enero. Estoy abierto de Lunes a Viernes de 9 am a 7 pm y los sabados de 9 am a 4 pm.

Happy new year to all clients and friends.

Taxpayers who purchased medical insurance through Covered California in 2014 are being surprised by either receiving a larger refund or having to pay back some of the assistance. Taxpayers who overestimated their income are being pleasantly surprised with a larger refund; those who underestimated their income are finding out that they will have to return some of the assistance received. Those taxpayers who are purchasing medical insurance through Covered California this year should make sure they accurately report their estimated income for 2015 to avoid having to pay back some of the assistance received when they file their 2015 tax return next year.

California has began sending forms 1095-A to those taxpayers who purchased medical insurance in 2014 through Covered California. This form is required to complete 2014 tax returns. If you created an account online with Covered California your form may already be in your mail box; otherwise, your form will arrive via snail mail. All taxpayers who are legally in the U.S. must have had medical insurance coverage for them and their dependents in 2014 to avoid paying penalties.

The IRS started processing electronically filed returns today and the system seems to be working smoothly; I just received my first acknowledgment of this tax season. California has been processing acknowledgments since January 2.

I just completed my first tax return for tax year 2014. I am expecting a busy tax season as more people will seek professional help now that Obama Care is in place.

The IRS will start processing electronically filed returns on January 20, 2015.