IRS Problem Solver Attorney Mary King Discusses New Issues For Filing 2014 Tax ReturnsJan 12, 2015
Attorney Mary E. King appeared on the talk radio show Money For Lunch to discuss new considerations taxpayers must deal with when filing their 2014 tax returns.
Chief among the concerns were the changes made to many tax forms to include additional information for the implementation of the Affordable Healthcare Act often referred to as ACA or Obamacare.
Attorney Mary King stated that because the new rules are not well, understood many taxpayers ought to consider filing with the help of a professional tax preparer to avoid costly mistakes. Forms that many taxpayers are familiar with such as 1040EZ, 1040A now require additional information about healthcare coverage. Additionally new forms about healthcare tax credits, individual responsibility for those how have not secured healthcare coverage for either the entire year of 2014 or had coverage lapses for a month or more are also now in the mix.
Mary King also gave examples of documentation and online services provided free of charge by the IRS to help taxpayers understand the new rules and even file their returns directly online. Specifically Mary King explained that irs publication 5187 which can be downloaded from irs.gov contains information for taxpayers who had heath coverage for the year, did not have coverage for part of the year and tax credits and exemptions to the new law. Publication 5187 also includes glossary to explain new terms related to ACA and taxes to help taxpayers understand the terminology being used on the updated tax forms.
Mary King added this note of caution for those taxpayers looking to file their returns themselves,”Making a mistake in filing your taxes is very easy to do and often seems innocent enough. However the IRS does not give leniency for tax mistakes and have been known to respond to errors on tax returns by sending tax bills of additional amounts with up to 20% in penalties added on, initiating an audit and many other unpleasant – for those with medium to larger incomes it may make sense to spend a little extra money to get the security of having a knowledgable professional tax preparer handle your return for you.”
About Tax Help Attorney Mary King
Mary King is a Martindale-Hubbell Peer Review Rated Attorney that specializes in providing IRS Debt Relief for individuals and businesses in Florida. Mary enjoys an AVVO rating of Superb, a 5 out of 5 Lawyers.com Client Rating and her Business, the Law Office Of Mary King P.L. Has an A+ rating with the Better Business Bureau.
With offices in Sarasota and Punta Gorda Florida, Attorney Mary King has helped thousands of clients resolve their IRS debt problems. Frequently a featured guest on radio shows and a published, best selling author, Mary King stays active in the community helping to share here knowledge of IRS tax issues.
More about Mary King at http://www.FloridaTaxlawyers.com