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IRS offers ACA tax tips

The Internal Revenue Service is offering educational health care tax tips to help individuals understand how the Affordable Care Act may affect their taxes.

The IRS has designed the tips to help people understand what they need to know for the federal individual income tax returns they are filing this year, as well as for future tax returns. This includes information on the premium tax credit and making health care coverage choices.

Although many of the tax provisions included in the law went into effect on Jan. 1, 2014, most do not affect the 2013 tax returns.

The Health Care Tax Tips, (available at www.irs.gov/aca) include health care choices for 2014, insurance coverage options, tax credits, individual shared responsibility and how changes in circumstances can affect the tax credit.

The website also offers informative flyers and brochures, frequently-asked questions and in-depth legal guidance regarding the tax provisions of the Affordable Care Act.