New IRS website provides health care law information for just about everyone

New IRS website provides health care law information for just about everyone

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Many provisions of the Patient Protection and Affordable Care Act of 2010 have recently gone into effect, and some significant provisions will do so in 2014 and 2015. To help individuals and families, employers (both large and small), and other organizations learn more about how they’ll be affected, the IRS has launched a new website. The site offers information on the tax benefits and responsibilities for various groups, such as:

Individuals and families — new additional Medicare taxes, changes to the itemized medical expense deduction and open enrollment for the Health Insurance Marketplace

Employers — determining whether you’re a large or small employer, shared responsibility payments for large employers, and the small business health care tax credit

Other organizations — tax provisions for insurers, certain other business types and tax-exempt and government organizations

While the new website provides substantial information on tax-related provisions of the health care act, it’s no substitute for professional advice. So please contact us for more information on how you can take advantage of any benefits available to you and minimize any negative tax consequences. information@keitercpa.com | 804.747.0000

Source: PDI Global


The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


About the Author

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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