Final Exam
Student: Wang, Kent
SCORE: 90%
PASSED
Question
1
You can file a tax return without the Form 1095-A available.
Your answer: TRUE
Course ID# 00068919
penalty 325 per adult or 2% of net household income (household income less the filing threshold)
20% are directly impact by ACA
1095A (required)
1095B
1095C
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FINAL EXAM:
You can file a tax return without the Form 1095-A available.
XTRUE
FALSE
If you have a hardship exemption for 2015, you automatically have a hardship exemption for 2016.
TRUE
XFALSE
How many days may a client's refund be delayed without the 1095-A being filed with the return?
180 days
0 days
X90 days
360 days
You can file a tax return without the Form 1095-B available, as long as there are no inconsistencies.
XTRUE
FALSE
When reviewing the Affordable Care Act Exemptions Smart Card, which is one of the hardship exemptions?
Utility Shut-Off
Bankruptcy
Eviction/Foreclosure
XAll of the Above
What is the penalty per adult in 2015 for not having health insurance?
$95 per adult
X$325 per adult
$125 per adult
$695 per adult
You can file the tax return without the Form 1095-C available, if a 1095-A is present in the tax return.
TRUE
XFALSE
Everyone in the household has to obtain health insurance or qualify for an exemption.
XTRUE
FALSE
What kind of letter will a client receive if the 1095-A is not filed with the return?
XLetter 12C
Letter EIC
Letter 1040
Letter 1041
What percentage of filing households will be directly impacted by ACA penalties, exemptions, or PTC reconciliations?
10%
X20%
30%
40%