Affordable Care Act Tax Provisions
The Affordable Care Act includes tax provisions that affect individuals and families, as well as businesses, insurers, tax-exempt organizations, and government entities. For individuals, the law requires you and everyone on your return to report health care coverage or claim an exemption or make a payment with your return. It also establishes a Health Insurance Marketplace where individuals can purchase health insurance coverage. For those who purchased coverage through the Marketplace, you may be eligible for the premium tax credit. These provisions of the health care law will result in important changes, including how individuals and families file their taxes. The law also contains benefits and responsibilities for other organizations, including employers.