The Internal Revenue Service is offering educational Health Care Tax Tips to help individuals understand how the Affordable Care Act may affect their taxes.

The IRS has designed the Health Care Tax Tips to help people understand what they need to know for the federal individual income tax returns they are filing this year, as well as for future tax returns. This includes information on the Premium Tax Credit and making health care coverage choices.

Although many of the tax provisions included in the law went into effect on Jan. 1, 2014, most do not affect the 2013 tax returns.

The Health Care Tax Tips, which are now available at IRS.gov/aca, include:

·         IRS Reminds Individuals of Health Care Choices for 2014 ─ Find out what you need to know about how health care choices you make for 2014 may affect your taxes.

·         The Health Insurance Marketplace – Learn about Your Health Insurance Coverage Options – Find out about getting health care coverage through the Health Insurance Marketplace.

·         The Premium Tax Credit ─ Learn the basics of the Premium Tax Credit, including who might be eligible and how to get the credit.

·         The Individual Shared Responsibility Payment – An Overview ─ Provides information about types of qualifying coverage, exemptions from having coverage, and making a payment if you do not have qualifying coverage or an exemption.

·         Three Timely Tips about Taxes and the Health Care Law ─  Provides tips that help with filing the 2013 tax return, including information about employment status, tax favored health plans and itemized deductions.

·         Four Tax Facts about the Health Care Law for Individuals ─ Offers basic tips to help people determine if the Affordable Care Act affects them and their families, and where to find more information.

·         Changes in Circumstances can Affect your Premium Tax Credit ─ Learn the importance of reporting any changes in circumstances that involve family size or income when advance payments of the Premium Tax Credit are involved.

In addition to Health Care Tax Tips, the IRS.gov/aca website offers informative flyers and brochures, Frequently Asked Questions and in-depth legal guidance regarding the tax provisions of the Affordable Care Act.

Individuals interested in receiving copies of IRS tax tips via email on a variety of topics, including the Affordable Care Act, can subscribe at www.irs.gov/uac/Subscribe-to-IRS-Tax-Tips.

IRS Tax Tip 2014-20, February 25, 2014

Many of us need information when preparing our federal tax returns. We have questions about dependents, which forms to use and how to claim a credit.
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Here are the best ways to get free help from the IRS:

• Visit the IRS on the Web.  The IRS.gov website is your one-stop tax shop. Start at ‘1040 Central.’ Before you go anywhere else, look here for tips and information that will help you file your federal tax return. This page has links to information about filing options, the latest news and frequently asked questions.

  You will also find links to a number of online tools like the Interactive Tax Assistant and the IRS Tax Map for answers to your tax questions. Use ’Where’s My Refund?’ to check on your refund or use the EITC Assistant to see if you’re eligible for the Earned Income Tax Credit. You can also get all the forms and publications you need 24×7.

• Use IRS Free File to do your taxes.  Everyone can use IRS Free File to prepare and electronically file their federal tax return for free. IRS Free File is available exclusively on IRS.gov. The fastest way to get your refund is to combine e-file with direct deposit.

  If you made $58,000 or less, you can use Free File tax software to e-file your tax return. The software is easy to use and will guide you through the steps of filing your taxes. If your income is more than $58,000 and you’re comfortable doing your own taxes, you can use Free File Fillable Forms. This program is the electronic version of IRS paper forms.

• Get tax help in your community.  The Volunteer Income Tax Assistance program helps people who make $52,000 or less prepare and file their tax returns for free. The Tax Counseling for the Elderly program offers help mainly to people 60 or older. AARP is part of the TCE program and helps taxpayers with low-to-moderate incomes.

  VITA sites are located in neighborhoods all over the USA. Visit IRS.gov and enter ‘VITA’ in the search box. Then click ‘Free Tax Return Preparation for You’ to locate a VITA or TCE site near you.

If you don’t have Internet access you can call 800-TAX-FORM (800-829-3676) to order IRS forms and publications. You can check the status of your refund by calling 800-829-4477. Call the same number to hear taped messages on more than 150 tax topics. You can find the closest VITA site by calling the IRS at 800-906-9887.

IRS YouTube Videos:

• All About IRS.gov – English | Spanish | ASL
• Welcome to Free File – English
• Help Yourself – English | Spanish

IRS Podcasts:

• Help Yourself – English | Spanish

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