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Posts Tagged ‘affordable care act tax provisions’

Affordable Care Act Tax Potholes: Know These Tax Breaks

Although it’s widely accepted that the tax code is complex, there is little forgiveness for making mistakes on a tax return. Tax filing procedures can fluctuate - the tax rules change, filing requirements are updated and the IRS rules can be amended. Two of the most important evolving factors to consider are tax credits and deductions. These not only reduce the tax liability at the time of return preparation, but also help in financial and ...

Your Health Coverage Tax Filing Requirements

This tax filing season, a new box that taxpayers will need to check is for their health insurance status. That is how most taxpayers will be reporting their healthcare status to the government. However, those that bought coverage through the Marketplace and those that are exempt from getting coverage will need to fill out forms to report this information to the IRS. The IRS will ...