Wednesday, January 7, 2015

New IRS Publication on the Affordable Care Act

Dana Halvorson

According to a Dec. 24, 2014, IRS Tax Tips email, there is a new publication that can help you learn about how the Affordable Care Act affects your taxes. IRS Publication 5187, Health Care Law: What’s New for Individuals and Families is now available on, and breaks down what’s new for the 2014 federal tax return you will be filing in 2015. According to the IRS email, this new publication provides information for taxpayers who:
  • Had health insurance coverage for the entire year 
  • Did not have health coverage for each month of the year 
  • Purchased health insurance from the Marketplace 
  • Might be eligible for an exemption from the coverage requirement 
  • Had advance payments of the premium tax credit sent to their insurance provider 
  • Is claiming the premium tax credit on their tax return 
The publication includes a glossary intended to help you understand new terms related to the ACA. It also addresses the new lines for reporting ACA information on Forms 1040, 1040-A and 1040-EZ. More information on federal taxes can be found at

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