If you got health coverage through President Barack Obama's law this year, you'll need a new form from your insurance exchange before you can file your tax return next spring.
Some tax professionals are worried that federal and state insurance marketplaces won't be able to get those forms out in time.
That could lead to delayed tax refunds for millions of consumers.
The same federal agency that had trouble launching HealthCare.gov last fall faces the heaviest lift.
The Health and Human Services Department must send out millions of the forms, which are like W-2s for people getting tax credits to help pay health insurance premiums.
The form is called 1095-A, and it's supposed to be delivered by Jan. 31.
Citation:
Tax forms could pose challenge for HealthCare.gov (2014, August 30)
retrieved 19 March 2024
from https://medicalxpress.com/news/2014-08-tax-pose-healthcaregov.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.