The Affordable Care Act requires that most Americans report their health insurance status on tax returns. While choosing the right health insurance plan is a big decision, reporting insurance status on taxes isn’t – and can be as easy as a tax preparer checking a box for insured clients.
Still, many taxpayers see their tax preparers as the ultimate resource at the intersection of the health care and taxes. That’s why we created the Affordable Care Act Resource Center, which has free guides, checklists and interactive tools to assist tax pros. And, to help make sense of the alphabet soup of ACA acronyms and terms, we created the Periodic Table of Wellements, which contains key terms related to the Affordable Care Act, open enrollment and tax forms your clients may ask you about.
Feel free to save it for your reference, or share with your clients, to help them understand more about the health care law and how it intersects with taxes.
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