Monday, June 2, 2014

IRS Announces Issuance of Two Affordable Care Act ("Obamacare") Electronic Publications

The IRS announced the issuance of two electronic publications containing information for individuals and families about the Affordable Care Act (ACA). These one-page publications are available on the IRS website and can be used by individuals, tax professionals, health care professionals and other stakeholders for educational and outreach purposes.

Publication 5152, Report changes to the Marketplace as they happen…, discusses the importance of reporting changes in circumstances, such as family size and income changes that can affect the Premium Tax Credit, to the health insurance Marketplace.  Reporting changes can help individuals and families avoid getting too much or too little in advance credit payments.

Publication 5156, Facts about the Individual Shared Responsibility Provision, discusses what individuals need to know regarding health insurance coverage and taxes.
These two publications will supplement several earlier IRS ACA flyers:

Publication 5120 (English) and Publication 5120SP (Spanish) – Facts about the Premium Tax Credit (Flyer)

Publication 5121 (English) and Publication 5121SP  (Spanish) – Facts about the Premium Tax Credit (Tri-fold Brochure)

Publication 5093 –Health Care Law Online Resources


For legal help with your small business contact a small business and corporate attorney at the offices of AttorneyBritt.


IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.