Say Goodbye to 1040-EZ

[somarco]

"As expected, the forms are very detailed and can present significant complexity, depending on a filer's coverage status during the year, income level, and household composition," Cobb said. "Depending on their situation, there are instances where filers may need to file multiple new tax forms and complete additional worksheets."

Cobb said people who are used to filing the pared down 1040-EZ will no longer be able to do so if they received any subsidies.

H&R Block CEO says Obamacare to add 'significant complexity' to tax season | WashingtonExaminer.com

 

[AllenChicago]

Also, people who think they can avoid the "Shared Responsibility" Penalty-Tax for not having health insurance by using the 1040EZ will find out otherwise.

The revised IRS form 1040-EZ for 2014 now has "Line 11" for paying the tax: http://www.irs.gov/pub/irs-dft/f1040ez--dft.pdf

But then again, since this penalty-tax is "optional", I suppose you could just write "0" on that line. Most uninsured 1040EZ filers will most likely do this, or simply leave it blank.
ac

 

[xrac]

H&R Block CEO says Obamacare to add 'significant complexity' to tax season | WashingtonExaminer.com

More good news!...............................

 

[somarco]

If you like your 1040-EZ you can keep your 1040-EZ

 

[Post Quartermaster]

It appears the Tax Preparers job stimulus bill is working as intended........

 

[houcoogster]

Ok fellas it's quiz time!

100 points to the winner!

Why might this be good news for agents like us? How is this going to help us?

 

[KennyWest]

Ok fellas it's quiz time!

100 points to the winner!

Why might this be good news for agents like us? How is this going to help us?

Hmmm... off the top of my head
- Find CPA firm(s) to refer clients to and in return the CPA refers people to enroll to you and they put a link to your iste (or your ACAExpress.com enrollment site once your client facing URL has been assigned)?

 

[somarco]

I doubt most EZ filers use a CPA. Look for the Statue of Liberty person twirling a sign during tax season. Have cold malt liquor in the car and cartons of Kool's ready to hand out.

 

[houcoogster]

Hmmm... off the top of my head
- Find CPA firm(s) to refer clients to and in return the CPA refers people to enroll to you and they put a link to your iste (or your ACAExpress.com enrollment site once your client facing URL has been assigned)?

No sorry wrong answer.

I will give you 10 points for effort.

The answer is: The more time it takes for them to do someones taxes the less time they will have to try and snipe our business. Also they will be so busy training tax queens on the new forms they won't have time to train them on how to sell HI.