The Internal Revenue Service (IRS) has released several new YouTube videos to help taxpayers get important information about the Affordable Care Act and tax return filing.
The new videos are part of a series on the IRS YouTube channel and feature IRS Commissioner John Koskinen discussing the premium tax credit and the individual shared responsibility provision.
These provisions of the Affordable Care Act will affect people’s tax returns next year when they file for 2014.
In the video about the premium tax credit, the Commissioner talks about how it can help make purchasing health care through the Health Insurance Marketplace more affordable for people with moderate incomes.
“You can get advance payments of the premium tax credit paid directly to the insurance company to lower your monthly premium, or you can apply for the premium tax credit when you file your tax return for 2014,” Koskinen said.
Additional videos about the Affordable Care Act will be available soon.
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the entire article, please visit www.cpapracticeadvisor.com.
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