U.S. Government to Roll Out Resources to Assist Taxpayers with ACA Tax Filings
The Treasury Department and Health and Human Services announced last week that in the coming weeks it will introduce â€śconsumer-friendlyâ€ť resources for taxpayers to use to comply with the new healthcare rules.
Starting this year, taxpayers are facing additional paperwork for this yearâ€™s filing, causing concern for taxpayers and their accountants. Tax filers will now have to report whether they had healthcare coverage in 2014 and if they received tax credits to help buy insurance.Â Those who didnâ€™t have healthcare coverage will owe a fee.
The joint agency announcement though hasnâ€™t yet specified what the tools and resources will be, reports The Journal of Accountancy. Â Additional information is also available at the IRSâ€™s Affordable Care Act Tax Provisions web page or healthcare.gov/taxes.