The Affordable Care Act (ACA) along with its health insurance premium subsidies available from insurance marketplaces, premium tax credit (PTC), and penalty for not being insured, is going to affect just about every taxpayer in one way or another.
It is important for everyone to understand that new, substantial, and sometimes complicated reporting requirements were added to the 2014 tax return to facilitate the ACA insurance mandate. As a result, taxpayers need to be prepared for a variety of new forms, starting in January 2015 from their insurance companies, employers, and the marketplace that they will need in order to prepare their tax returns.
Getting Started
To find out more about how the new healthcare law will affect your taxes, check out our ACA primer on our blog, and please feel free to contact us at (781) 849-7200 or via the Get Started button below.
More Information
- 2014 Income Tax Impact of the Affordable Care Act in a Nutshell - January 8, 2015
- Family, Income, & Residence Changes Affect ACA Tax Credit - December 31, 2014
- Large Employers Must Offer Coverage Beginning In 2015 - December 18, 2014
- No Health Insurance? Qualify for Hardship Waiver? - December 9, 2014
- Avoid Tax Surprises: Report Life Changes to the Marketplace - November 4, 2014
- Obamacare Adds New Levels of Complexity to Tax Returns - October 23, 2014
- Health Savings Accounts Offer Tax Breaks - October 9, 2014
- Will the Affordable Care Act Impact Your Tax Return for 2014? - June 24, 2014
- You and the New Medicare Tax - November 21, 2013
- Preparing for the New Surtax - September 10, 2013
- How the Health Care Law Will Impact Your Taxes - July 12, 2012
Helpful Numbers
IRS Hotline for Individuals
IRS Hotline for Businesses
Massachusetts Department of Revenue Hotline
Free Subscription to Our Newsletter
Sign up for our newsletter and get the latest in tax updates and issues that affect your tax well being.
Your email is safe with us!