Tax Filing Season
The Internal Revenue Service has announced a delay to the start of the tax filing season, due to the sixteen-day federal government closure this year in October. The IRS will begin processing paper and electronic returns on January 31, 2014. The Benefit Bank tax filing services will be available on January 31, 2014. The filing deadline for this tax year is April 15, 2014.
Income Limits for The Benefit Bank
The Benefit Bank has adjusted our income limit for filing taxes with our service. Previously, the income limit for all households was $60,000. For the 2013 tax season, we will have two income limits. Joint tax filers must have income less than or equal to $95,000. All other tax filers must have income less than or equal to $65,000. Please refer to the full article in this newsletter for more information about how this new income limit will affect the availability of tax credits and deductions in The Benefit Bank.
Read more about What's New For the 2013 Tax Season here.
Read more about Income Limits for The Benefit Bank here.
TBB Making Changes to Support Consumers in Accessing Health Insurance
The Benefit Bank is making changes to support consumers in accessing health insurance through the Affordable Care Act (ACA). Significant upgrades have been made to QuickCheck to provide counselors with a tool to quickly assess a client's most likely health coverage options, which include Medicaid, CHIP, and tax credits available through the Health Insurance Marketplace. The enhanced QuickCheck, which also makes improvements for screening other federal and state benefits, is now available.
Beginning in January 2014, counselors in limited states will be able to use TBB to help users fill out the states's standard paper application form (often referred to as the Single Streamlined Application) to apply for Medicaid, CHIP, and supports offered through the Health Insurance Marketplace.
As the requirements of the ACA are rolled out, TBB counselors will be the preferred resource for clients who need assistance with multi-benefit applications and/or who are unskilled or uncomfortable with online applications.
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