Tax Musings of a Burbank CPA: ACA Updates Tax Preparers Should Know About

There are some new forms for 2014 that are related to the affordable care act (ACA) that tax preparers need to be aware of.  See this posting in Accounting Today by Roger Russell:

http://www.accountingtoday.com/news/tax-season/aca-updates-tax-preparers-should-know-about-72109-1.html

One of the biggest issue is going to be form 1095-A from the insurance exchange showing people covered by the exchange in the household and subsidies paid by the exchange for the insurance.  You use this to calculate how much subsidy you are actually eligible for and whether you have to pay some of the subsidy back.  There are other forms also related to the ACA that you will need, but this form is the most important.

 ACA Confusion Affordable Card ActDollar Relaxed For financial,  accounting and tax musings,

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