HCTT-2015-05: The Health Care Law's Effect on Your Tax Return
Internal Revenue Service (IRS) sent this bulletin at 01/27/2015 04:28 PM EST
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Issue Number: HCTT-2015-05Inside This IssueThe Health Care Law's Effect on Your Tax Return The Affordable Care Act contains tax provisions that affect the 2014 income tax return you file this year. Almost everyone is affected by the individual shared responsibility provision while only people who purchased coverage through the Marketplace are affected by the premium tax credit. The following chart will help you better understand what you need to do on your tax return. This chart is also available on IRS.gov/aca. To help navigate these changes, taxpayers and their tax professionals should consider filing returns electronically. Using tax preparation software is the best and simplest way to file a complete and accurate tax return as it guides individuals and tax preparers through the process and does all the math. There are a variety of electronic filing options, including free volunteer assistance, IRS Free File for taxpayers who qualify, commercial software, and professional assistance
More Information To find out more about the tax provisions of the health care law, visit IRS.gov/aca. Thank you Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |