Frequently Asked Questions
The Professionals at Megilligan Accounting are always happy to answer your questions but ask that you please take a look at some commonly asked questions before you reach out to us.
What is the penalty for not having health insurance?
- In 2014, the Affordable Care Act required that each household purchase health insurance or pay a penalty of the higher of either 1% of the total household income or $95 per uninsured adult and $47.50 per uninsured child.
- In 2015, the penalty rose to 2% of total household income or $325 per uninsured adult and $162.50 per uninsured child.
- In 2016, be prepared to pay 2.5% of total household income or $695 per uninsured adult and $347.50 per uninsured child.
For More Information On Health Insurance Penalties Click Here
When can I expect my refund?
- e-File: 6 – 14 days
- Paper Filing: About 6 weeks
Still haven’t received your refund?
Click the appropriate link below and provide your SSN and refund amount. If the account referenced on your return has been closed or is incorrect, your refund will be sent back to the IRS and then sent to you in a paper check.