New publications from the IRS help educate individuals and families about the Affordable Care Act. Employers, tax professionals, health care professionals, and other trusted advisors should share the following newly-released materials:
Publication 5152 (Flyer) – Report changes to the Marketplace as they happen.
Reporting changes in circumstances will allow the Marketplace to adjust advance credit payments. Changes that should be reported to the Marketplace include:
- Birth or adoption
- Marriage or divorce
- Moving to a different state
- Changes in household income
- Incarceration or release from incarceration
- Gaining or losing health care coverage or eligibility
- Other changes affecting income and household size
Publication 5156 (Flyer) – Facts about the Individual Shared Responsibility Provision.
This flyer helps answer the following:
- Do I have minimum essential coverage?
- Am I eligible for an exemption?
- Will I have to make a payment?
This publication breaks down:
- “Get it now or Get it later”
- Reporting changes in circumstances
- Claiming the credit
This trifold brochure helps explain facts about:
- The Premium Tax Credit
- Getting the credit
- Claiming the credit on tax return
For additional health care law resources online, see Publication 5093.
Photo courtesy of Publication 5093.