Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

How does the affordable care act affect my tax filings for each year?

Affordable Care Act
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Devon McCarthy FCCA, EA
If you qualify for and receive coverage through the Health Insurance Marketplace you may also qualify for a Premium Tax Credit. If you do not elect to have the credit paid directly to the insurance company, you may claim this credit when you file your tax returns.
If you do not have the ‘minimum essential coverage’ and you are not exempt, you may have to make a payment when you file your tax return. This payment is called the ‘Shared Responsibility Payment’.
When you file your return you will report whether you are covered, exempt or need to make a payment.
Leave a Comment 317 weeks ago


Meet Leading Tax Advisors

User Photo John Stancil

Professor

Lakeland

User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John Dundon, II EA

Tax Director

Denver, CO

User Photo William Rogers, CFP, MBA, EA

CEO/Certified Financial Advisor

Rancho Santa Fe, CA

User Photo Monika Miles

President

San Jose, CA

User Photo Blake Christian

Tax Partner

Long Beach/ Park City, CA

User Photo John Richardson

Lawyer

Toronto, Canada

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today