Health Care Tax Tip Weekly Recap

Here is a summary of the health care tax tips the IRS released the week of April 4, 2016.

Information for individual taxpayers:

  • What to Do if You Get a Letter about the Premium Tax Credit

Some taxpayers will be receiving an IRS letter about the premium tax credit; this letter is also known as a 12C letter. Be sure to read your letter carefully and respond timely. Here are answers to questions you may have about this letter. More

  • What to Do if You Get a Corrected or Voided Form 1095-A

If you or anyone in your household enrolled in a health plan through the Health Insurance Marketplace in 2015, you should have received a Form 1095-A, Health Insurance Marketplace Statement, from the Marketplace. You will use the information on the form to claim the premium tax credit if you’re eligible, to reconcile advance payments of the premium tax credit, or both, when filing your tax return. More

  • Don’t Confuse Health Care Forms

With the tax filing deadline approaching, remember that the Affordable Care Act contains tax provisions that affect your 2015 income tax return. Taxpayers who are claiming or reconciling the premium tax credit, or claiming an exemption from the requirement to have health coverage must complete IRS forms related to the health care law. Because the form numbers are similar, it’s important that you use the correct form for your circumstance. More

  • The Health Care Law and Your Taxes: Last Minute Filing Tips

If you have not yet filed your federal tax return, here are three last-minute filing tips related to the health care law. Remember that the tax filing deadline this year is Monday, April 18. More