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Certain Medicaid Waiver Payments May Be Excludable From Income | Print |  E-mail

Certain Medicaid Waiver Payments May Be Excludable From Income

If you receive payments from the state Medicaid program, there is tax relief for some of those payments if you qualify.  While we cannot determine whether or not this affects you directly, we wanted you to be aware of this provision.  If you determine that you are eligible, we will be happy to assist you with filing amended returns for the years affected.  Until April 15, 2016, the 2012 return is still eligible for amending for a refund.  So, the 2012, 2013 and 2014 returns could result in refunds.

Are you or somebody you know receiving Medicaid payments?  There may be tax relief, read here for more information.   http://www.irs.gov/Individuals/Certain-Medicaid-Waiver-Payments-May-Be-Excludable-From-Income.

Here is Notice 2014-7:  http://www.irs.gov/Individuals/Certain-Medicaid-Waiver-Payments-May-Be-Excludable-From-Income.

If you know someone who could benefit from this information, please feel free to pass it on!

 

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