Form 3520 - Ca Power Of Attorney - General Information

(714) 284-4802 ▪ (844) 327-6740 ▪ Fax (714) 254-7210 ▪ Website:

1100 E. Orangethorpe Ave., Suite 100, Anaheim, CA 92801

COD Policy

IMPORTANT: Accounts with an outstanding balance over 21 days will be placed on

C.O.D. status. C.O.D. accounts will be shipped ONE shipment, UPS C.O.D., for the balance

past due. Any returns processed after that shipment will be held until monies are received

from UPS and account is current.

If you do not want shipments sent to you UPS C.O.D., contact Customer Service to place

your account on HOLD until you bring your balance current.

Courier C.O.D. accounts will be sent one shipment with notification that future returns will

be held until account is current.

E-file transmissions will be held for all accounts on C.O.D. until the balance is

current. When the account is made current then all pending authorizations will

automatically be transmitted. No additional authorization will be required.

Forms 1095-B and 1095-C

2016 marks the second year that Americans are required to report their health insurance status on

their taxes under the Affordable Care Act (ACA). If your client has full year health insurance

through an employer, Medicaid, Medicare, VA, or other qualifying coverage, all you will need to

do is enter a code 1 in Form Coverage {64A}, zip 1 or any of the other new coverage boxes on

Forms W2 {20}, C {28A}, F {36A} or SSA1099 {27A} and you’re done. Only one entry is

needed.

Taxpayers who have non-Marketplace health insurance (their plan wasn’t purchased on

healthcare.gov or a state Marketplace) may receive the new Forms 1095-B or 1095-C — these

are receipts from private insurers or employers, confirming they had or were offered coverage.

Check them for accuracy if you receive them and keep them for your records. You do not need

them to file the 2015 tax return.

If health insurance was purchased on CoveredCA, healthcare.gov or another state’s Health

Insurance Marketplace, you will still report health insurance information from Form 1095-A

{64B} in addition to indicating full or partial coverage where applicable.

Avoid Processing Pitfalls

Below are some common areas where missing input will delay the processing of the

return or make it incorrect:

1. EIC: When in doubt about whether the EIC will apply, fill in questions concerning

eligibility for EIC {79}. If required questions are omitted, ExacTax will attempt to

enter them with standard defaults. Default answers should be reviewed because there

is a potential $500 penalty for failure to perform due diligence.

2. W2, zip 46: When a California W2 has a code ‘W’ entry in Box 12 the CA wages

should normally be higher than federal reportable wages. A diagnostic will alert you

when the CA wages are not different.

Form 3520 - Ca Power Of Attorney - General Information - 2015 Page 2