IRS releases new instructions for the Affordable Care Act

As reported by Benefitsnews, the IRS (Internal Revenue Service) has released new draft instructions, notices and a publication to help taxpayers and tax preparers deal with the premium tax credits associated with the Affordable Care Act.

The draft instructions were released last week (week of September 15, 2014) for Form 8962, “Premium Tax Credit,” and Form 8965, “Health Coverage Exemptions.” The IRS had previously released draft versions of the forms themselves, both 8962 and8965, along with draft instructions for several other draft forms for the Affordable Care Act (see IRS Gears up for Impact of Health Care Reform on Tax Season).

Need help to see if you qualify for premium tax credits? We can help!

www.SChealthconnector.org

One Response

  1. For the simplest scenario we found that the (draft) Form 8962 was not that difficult to complete (only 20 steps or so — it takes no more than 10 minutes to complete), if – like the old saying goes about eating an elephant – you do it “one bite at a time.”

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