The IRS released a new publication- IRS Pub 5187- which explains the impact of the Affordable Care Act on individual tax filings. The Publication, Health Care Law: What’s New for Individuals and Families, is available by clicking here.
The publication explains how taxpayers can satisfy the individual mandate under health care reform and offers information about the new premium tax credit. It begins with an overview of the Affordable Care Act, and then focuses on tips for filing 2014 tax returns. A glossary is included in the publication to provide an explanation for health care reform terminology.
Publication 5187 provides practical information that may be useful for employees.