Modified Adjusted Gross Income by PastorGallo

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									                                          10936                     Federal Register / Vol. 71, No. 42 / Friday, March 3, 2006 / Proposed Rules

                                          Modified adjusted gross income is based                    (a) When we have used modified                     calendar years following the close of the
                                          on information you provide to IRS when                  adjusted gross income from the tax year               tax year for which you filed the
                                          you file your Federal income tax return.                3 years prior to the effective year as                amended tax return. You must provide
                                             (b) We will use your modified                        described in § 418.1135(b), and IRS                   us with your retained copy of your
                                          adjusted gross income for the tax year                  provides modified adjusted gross                      amended U.S. Individual Income Tax
                                          beginning 3 years prior to the effective                income information from the tax year 2                Return on the required IRS form and a
                                          year of the income-related monthly                      years prior to the effective year, we will            copy of the IRS letter confirming the
                                          adjustment amount determination when                    use the new information to make an                    amended tax return was filed or a
                                          IRS does not provide the information                    initial determination for the effective               transcript from IRS if they did not send
                                          specified in paragraph (a) of this                      year. We will make retroactive                        a letter. If you cannot provide your
                                          section. If IRS can provide modified                    adjustments back to January 1 of the                  retained copy of the amended tax
                                          adjusted gross income for the tax year 3                effective year, or the first month you                return, you must obtain a copy of the
                                          years prior to the income-related                       were enrolled or reenrolled in Medicare               return from IRS. We will then make any
                                          monthly adjustment amount effective                     Part B if later than January.                         necessary retroactive corrections as
                                          year, we will temporarily use that                         (b) When we have used the modified                 defined in § 418.1120 to your income-
                                          information to determine your income-                   adjusted gross income information that                related monthly adjustment amount.
                                          related monthly adjustment amount and                   you provided for the tax year 2 years
                                                                                                                                                        Determinations Using a More Recent
                                          make adjustments as described in                        prior to the effective year and the
                                                                                                                                                        Tax Year’s Modified Adjusted Gross
                                          § 418.1120(b) to all affected income-                   modified adjusted gross income
                                                                                                                                                        Income
                                          related monthly adjustment amounts                      information we receive from IRS for that
                                          when information for the year specified                 same year is different from the                       § 418.1201 When will we determine your
                                          in paragraph (a) of this section is                     information you provided, we will use                 income-related monthly adjustment amount
                                          provided by IRS.                                        the modified adjusted gross income                    based on the modified adjusted gross
                                             (c) When we have used the                            information provided to us by IRS to                  income information that you provide for a
                                          information in paragraph (b) of this                    make a new initial determination. We                  more recent tax year?
                                          section, you may provide us with                        will make retroactive adjustments back                   We will use a more recent tax year
                                          evidence of your modified adjusted                      to January 1 of the effective year, or the            than the years described in
                                          gross income for the year in paragraph                  first month you were enrolled or                      § 418.1135(a) or (b) to reduce or
                                          (a) of this section. You must provide a                 reenrolled in Medicare Part B if later                eliminate your income-related monthly
                                          retained copy of your signed Federal                    than January.                                         adjustment amount when all of the
                                          income tax return for that year, if                        (c) When we have used information                  following occur:
                                          available. If you filed a return for that               from your amended Federal tax return                     (a) You experience a major life-
                                          year, but did not retain a copy, you must               that you provide, as explained in                     changing event as defined in § 418.1205;
                                          request a transcript or a copy of your                  § 418.1150, or you provide proof that                 and
                                          return from IRS and provide it to us.                   the information IRS provided to us is                    (b) That major life-changing event
                                          When we use this evidence, we will                      incorrect as described in § 418.1340, we              results in a significant reduction in your
                                          later confirm this information with IRS                 will not make any adjustments to your                 modified adjusted gross income for the
                                          records.                                                income-related monthly adjustment                     year which you request we use and the
                                             (d) When you meet the conditions                     amount for the effective year or years                next year, if applicable. For purposes of
                                          specified in § 418.1150 because you                     based on IRS information that we later                this section, a significant reduction in
                                          have amended your Federal income tax                    receive.                                              your modified adjusted gross income is
                                          return, or when you believe we have                        (d) When we use modified adjusted                  one that results in the decrease or
                                          used information provided by IRS                        gross income information that you                     elimination of your income-related
                                          which is incorrect, as described in                     provided due to a qualifying life-                    monthly adjustment amount; and
                                          § 418.1340, we will use information that                changing event and we receive different                  (c) You request that we use a more
                                          you provide directly to us regarding                    information from IRS, we will use the                 recent tax year’s modified adjusted gross
                                          your modified adjusted gross income.                    IRS information to make retroactive                   income; and
                                             (e) We may use information that you                  corrections to all months affected in the                (d) You provide evidence as described
                                          give us about your modified adjusted                    effective year(s) during which you were               in §§ 418.1220 through 418.1230.
                                          gross income for a more recent tax year                 enrolled in Medicare Part B, except                   § 418.1205   What is a major life-changing
                                          than those discussed in paragraphs (a)                  when paragraph (c) of this section                    event?
                                          or (b) of this section as described in                  applies.                                                 For the purposes of this subpart, we
                                          §§ 418.1201 through 418.1250.                                                                                 will consider the following to be major
                                                                                                  § 418.1145 How do we determine your
                                          § 418.1140 What will happen if the                      income-related monthly adjustment amount              life-changing events:
                                          modified adjusted gross income                          if IRS does not provide information about                (a) Your spouse dies;
                                          information from IRS is different from the              your modified adjusted gross income?                     (b) You marry;
                                          modified adjusted gross income                            In general, if we do not receive any                   (c) You divorce;
                                          information we used to determine your                   information for you from IRS showing                     (d) You or your spouse stop working
                                          income-related monthly adjustment                       that you had modified adjusted gross                  or reduce the hours you work;
                                          amount?                                                                                                          (e) You or your spouse experience a
                                                                                                  income above the threshold in the tax
                                            In general, we will use modified                      year we request, we will not make an                  reduction in your income due to a loss
                                          adjusted gross income information from                  income-related monthly adjustment                     of income-producing property, provided
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                                          IRS to determine your income-related                    amount determination.                                 that the loss is not at your direction
                                          monthly adjustment. We will make                                                                              (e.g., due to the sale or transfer of the
                                          retroactive adjustments to your income-                 § 418.1150 When will we use your                      property). Examples of the type of
                                          related monthly adjustment amount as                    amended tax return filed with IRS?                    property loss include, but are not
                                          described in paragraphs (a) through (d)                   You may provide your amended tax                    limited to, loss of income from real
                                          of this section.                                        return for a tax year we used within 3                property within a Presidentially or


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