U.S. Government to Roll Out Resources to Assist Taxpayers with ACA Tax Filings

Posted date: January 14, 2015 In: QuickPress, Tax

The Treasury Department and Health and Human Services announced last week that in the coming weeks it will introduce “consumer-friendly” resources for taxpayers to use to comply with the new healthcare rules.

Starting this year, taxpayers are facing additional paperwork for this year’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. Those who didn’t have healthcare coverage will owe a fee.

The joint agency announcement though hasn’t yet specified what the tools and resources will be, reports The Journal of Accountancy. Additional information is also available at the IRS’s Affordable Care Act Tax Provisions web page or healthcare.gov/taxes.

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The National Association of Certified Valuators and Analysts (NACVA) supports the users of business and intangible asset valuation services and financial forensic services, including damages determinations of all kinds and fraud detection and prevention, by training and certifying financial professionals in these disciplines.

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