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2015 4980H penalty amounts


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  • 3 weeks later...

After much digging I found the CMS determination of the 2015 "premium adjustment percentage" to be 4.21% so applying the adjustment methodology in 4980H the 2015 penalty amounts should be $2,080 and $3,120.

But still no official announcement from IRS that I can find.

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  • 4 months later...

Look at IRS Notice 2015-87, Q&A-13, which confirms that the dollar amounts for 2015 are $2,080 and $3,120, respectively. For 2016, the dollar amounts are $2,160 and $3,240, respectively. Not only are the dollar amounts for the excise tax amount adjusted for inflation but the percentage used to determine the threshold of affordability (i.e., the 9.5%) is also subject to adjustments for inflation. For 2015, the percentage is increased to 9.56%. For 2016, the percentage becomes 9.66%. The official source for this can be found in Notice 2015-87, Q&A-12.

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