The Affordable Care Act requires most Americans to have health insurance or be subject to a tax penalty. In order to prove you had health insurance in 2015, you will receive one of the following tax forms: IRS 1095-A Sent to you by the Marketplace if you purchased family or individual coverage through your state’s Marketplace (on-exchange). IRS 1095-B Sent to you by your insurance carrier if you purchased family
Tax Filing with the Affordable Care Act
With January behind us, it’s time to start thinking about filing your 2014 income taxes. By now, you should have received most, if not all, of your tax forms and notices from your employer(s), banks, mortgage company, financial institutions, etc. — and, if you bought health insurance on the exchange — the Marketplace. As we posted several weeks ago, the upcoming tax season promises to be complicated for those who
How Will the Affordable Care Act Affect my Taxes?
Have you started thinking about filing your 2014 taxes? April 15 may be a few months away, but this year — the first year the Affordable Care Act (ACA) is in effect — filing taxes will be more complicated for millions of Americans. That’s because certain provisions of the new law — namely, penalties and subsidies — will be reconciled at tax time. If you got health insurance through your
