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Volume 33; Health Care Reform Updates

Posted by Admin Posted on July 14 2017



Free document shredding! 

You are invited:

Saturday, June 24th, 2017 9:00 am - 12:00 pm
In front of our office building located at:
8008 Carondelet Ave., Clayton, MO 63105
Bring any documents you'd like professionally destroyed.

Becker and Rosen will be hosting our annual customer appreciation Free Document Shred Day. We will have an American Document Destruction truck and personnel on site to properly dispose of any and all of your old documents.

Click this link for current IRS document retention directives .

There will be goody bag giveaways and free pastries for your enjoyment.

We look forward to seeing you!

Written by: Natalie Stevenson, Staff Accountant

On May 24, the House Ways and Means Committee approved three bills dealing with the premium assistance credit (also called the premium tax credit).

The premium assistance credit is a refundable tax credit provided for eligible individuals and families to subsidize the purchase of health insurance plans through an American Health Benefit Exchange, referred to as "qualified health plans." In general, advance payments with respect to the premium assistance credit are made during the year directly to the insurer. However, eligible individuals may choose to pay their total health insurance premiums without advance payments and claim the credit at the end of the taxable year.

The first bill that was passed was the “Veterans Equal Treatment Ensures Relief and Access Now Act” (VETERAN Act). This bill amends the provisions in the present law and House-passed American Health Care Act (AHCA) to codify the rule that an individual is not considered eligible for coverage under a designated Veterans Affairs health program unless enrolled in the program.

The second bill is the “Broader Options for Americans Act.” This amends the Code definition of a qualified health plan under the AHCA provisions to include unsubsidized COBRA continuation coverage. Unsubsidized COBRA continuation coverage is the payment of the applicable premiums for which is solely the obligation of the taxpayer.

Lastly, the “Verify First Act,” amends the present-law and the proposed AHCA premium assistance credit to specify that no advance payments are to be made with respect to an individual unless the information related to citizenship or immigration status is verified. The Treasury Secretary must receive confirmation from the Secretary of Health and Human Services that the Commissioner of Social Security or the Secretary of Homeland Security has verified the individual's status as a citizen or national of the U.S. or an alien lawfully present.

The proposal relating to the present-law premium assistance credit is effective for taxable years beginning after December 31, 2017. 


Written by: Cindy Smith, CPA, CFE
We have received several phone calls inquiring on the status of Missouri tax refunds for 2016 tax returns. There has been a significant delay by the State of Missouri in issuing the refunds. We have recently received correspondence from the Missouri State Auditor’s office stating they have been in contact with The Missouri Department of Revenue regarding the status of the 2016 refunds. The Missouri Department of Revenue indicated they anticipate paying all refunds owed by the end of the fiscal year on June 30th. In addition, the State should pay interest on any refunds issued after 45 days of filing. If you have any questions, please contact us.


We want to remind you of important tax due dates and deadlines that are just around the corner. In addition to these dates please keep in mind that information provided to our firm for 1040 preparation on or after March 24th will receive an extension.

Here is a recap of important dates to keep in mind as 2017 progresses:

  • June 15, 2017 - 2017 2nd quarter estimate payment
  • September 15, 2017 - 2017 3rd quarter estimate payment 
  • September 15, 2017 - Form 1120, 1120-S and 1065, if extended 
  • September 30, 2017 - Form 1041, if extended 
  • October 16, 2017 - Form 1040, if extended 
  • January 16, 2018 - 2017 4th quarter estimate payment    

Visit our website. Explore all the new features at and don't forget to like us on Facebook and LinkedIn to keep up with all the latest tax news.

Becker and Rosen CPAs, LLC Disclaimer

This newsletter is intended to provide generalized information that is appropriate in certain situations. It is not intended or written to be used, and it cannot be used by the recipient, for the purpose of avoiding federal tax penalties that may be imposed on any taxpayer. The contents of this newsletter should not be acted upon without specific professional guidance. Please call us if you have questions. 

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