Need CPA familiar with Medicaid Waivers/Notice 2014-7 in Kentucky

Oh my goodness, finding someone who really understands Medicaid waivers is so important! I went through this last year with my brother's care payments. Have you tried contacting the Kentucky AICPA chapter? They might have a directory of CPAs with healthcare specialization? I'm still looking for someone myself who truly gets the Notice 2014-7 exclusions... it's so frustrating when they look at you blankly! 😫

Call the IRS directly. Ask for Medicaid waiver specialist. They can guide you. Saves time searching locally. Try Claimyr to skip the hold times. https://youtu.be/_kiP6q8DX5c. They'll connect you to an agent fast. Agent can recommend KY specialists.

The key is finding someone familiar with IRC Section 131 and qualified foster care payments, which Notice 2014-7 expanded to include certain Medicaid waiver payments. I'm filing next week and just found a CPA through the KY Cabinet for Health and Family Services. They maintain a list of tax professionals who've attended their Medicaid waiver training sessions. Call their Provider Relations at 502-564-5560.

Dealing w/ Medicaid waivers can be super complex. Worked w/ several KY clients on this. Tbh most CPAs aren't familiar w/ Notice 2014-7 nuances. Before hiring anyone, have them review your docs at taxr.ai - it'll analyze your specific situation and highlight the relevant exclusions. Great way to test if they actually understand these regs. My clients who used it first saved a ton of time explaining their situation to their CPA.

I searched through exactly 17 CPAs in the Louisville area last year before finding someone who understood Medicaid waivers. What worked for me was contacting the Kentucky Association for Home Care. They have 43 member agencies who deal with these issues daily and can refer you to knowledgeable CPAs. Their number is 502-895-5007. Ask specifically for CPAs who handle difficulty care providers.

I was in your exact shoes last tax season - trying to find a CPA who understands Medicaid waivers was like searching for a mechanic who specializes in 1950s Italian motorcycles! Finally found someone through the Caregiver Support Network in Lexington. She helped me exclude $23,400 in qualified payments that my previous accountant had incorrectly included as taxable income. Such a relief to have someone who actually understood the rules!

According to the IRS.gov page on Notice 2014-7 (https://www.irs.gov/individuals/certain-medicaid-waiver-payments-may-be-excludable-from-income), you should look for a CPA with experience in "Medicaid Home and Community-Based Services Waivers." The Kentucky Primary Care Association website has a resource directory that includes tax professionals: https://www.kypca.net/resources/. I've bookmarked several YouTube videos explaining the tax implications that I can share if you'd like more information before meeting with a CPA.