IRS Publication Helps Consumers Learn about Health Care Law

New guide assists taxpayers with updates

irsAre you curious about how the Affordable Care Act will impact your taxes? Then you’re in luck. The Internal Revenue Service has released a new publication in an effort to assist consumers with learning the ins and outs of the ACA and how it will affect them.

A wealth of information can be found in IRS Publication 5187, Health Care Law: What’s New for Individuals and Families. This handy guide gives a rundown of new developments for this tax season.

The IRS says special updates are available for those who:

  • Did not have health coverage for each month of the year
  • Purchased health insurance from the Marketplace
  • Might be eligible for an exemption from the coverage requirement
  • Are claiming the premium tax credit on their tax return
  • Had advance payments of the premium tax credit forwarded to their insurance provider

Publication 5187 also contains a glossary of new terms related to ACA as well as new lines for reporting ACA information on Forms 1040, 1040-A and 1040-EZ.

You can obtain Publication 5187 at For more information on the Affordable Care Act, see What Consumers Should Know about the Affordable Care Act.

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