Fate of the Affordable Care Act?

Affordable Care Act. Here to stay?
During President Trump’s campaign, he promised to repeal the Obama administration’s Affordable Care Act and replace it with something bigger, better and cheaper.

There is no way to predict if a new health care bill will ever survive long enough to land on the President’s desk for signature.

There has been no law passed to eliminate the penalties regarding the individual mandate to carry health insurance.

Some of the more popular provisions that people would like to preserve in the new bill are: allowing dependents to remain covered on a parent’s plan until age 26, and prohibiting the denial of coverage based on pre-existing conditions.

 

IRS to hire Private Debt Collectors

The Internal Revenue Service plans to begin private collection of certain overdue federal tax debts in April 2017 and has selected four contractors to implement the new program.
The new program, authorized under a federal law enacted by Congress last December, enables these designated contractors to collect, on the government’s behalf, outstanding inactive tax receivables. Authorized under a federal law enacted by Congress in December 2015, Section 32102 of the Fixing America’s Surface Transportation Act (FAST Act) requires the IRS to use private collection agencies for the collection of outstanding inactive tax receivables.

Student Debt and the IRS

Tax information for student financial aid applications.The IRS DRT is currently unavailable. If you didn’t keep a copy of your return, here are some options.

Tax information for student financial aid applications.The IRS DRT is currently unavailable. If you didn’t keep a copy of your return, here are some options.

IRS Offers Help to Students, Families to Get Tax Information for Student Financial Aid Applications

Update March 30, 2017: Internal Revenue Service (IRS) and U.S. Department of Education Office of Federal Student Aid (FSA) Statement‎ about the IRS Data Retrieval Tool (DRT)

You must have information from your tax return in order to file a Free Application for Federal Student Aid (FAFSA®) or apply for an income-driven repayment plan.

The IRS Data Retrieval Tool (DRT) used to access your tax information for the FAFSA and income-driven repayment (IDR) plan applications is currently unavailable.

This does not limit an individual’s ability to apply for aid or an IDR plan. Applicants can manually provide their tax return information. The online FAFSA and IDR applications remain operational, and applicants can continue filing the FAFSA or applying for an IDR plan as they normally would

Getting Your 2015 Tax Return Information For the 2016–17 and 2017–18 FAFSA

Applicants filing a 2016–17 or 2017–18 FAFSA must use data from their 2015 tax returns.

You should always retain a copy of your tax return, either electronically or on paper, and keep it in a secure place.

If you did not keep a copy of your tax return, here are some options:
Access the tax software product you used to prepare and file your 2015 return. You may be able to access your account to download/print a copy.
Contact the tax preparer/provider who filed your 2015 return if you used a tax professional.

Download your tax transcript (a summary) at Get Transcript Online. Review the rigorous identity authentication requirements for Secure Access before attempting to register.

Use Get Transcript by Mail and a transcript will be mailed to the address on your return within five to 10 days.

Call our automated line at 800-908-9946 to order a transcript by mail.
If you filed an amended tax return, Form 1040X, you should use the adjusted gross income and earned income listed on your revised tax return.