4 Things To Know About The Affordable Care Act & Your Taxes
The law requires all Americans and legal residents to have health insurance.
If you do not have health insurance, you may be able to qualify for an exemption to waive the penalty.
New tax credits and subsidies provided by the ACA can help to save you money on monthly premiums and out-of-pocket costs.
The IRS has said that it will not accept e-filed 2017 tax returns that do not indicate if a household had health insurance or a coverage exemption or will pay the tax penalty.
Privately and securely declare your reasons for not having health insurance. If your reason qualifies, you can submit an application for an Exemption Certificate Number (ECN). You will need your ECN to complete your return.
Fill out the form and follow the filing instructions. Your tax exemption certificate number (ECN) may take 2-8 weeks for the Marketplace to process. The Marketplace will provide you with an ECN for you to place in your DIY Tax Return.