The ACA included several new tax laws that may affect your federal tax return due on April 15, 2014, including:

  • Reporting of employer-sponsored healthcare costs on your federal tax return from your Form W-2
  • Increased threshold for claiming unreimbursed medical expenses as an itemized deduction
  • Additional tax on net investment income from interest, dividends, capital gains, rental and royalty income, and other investment income for high-income taxpayers
  • Additional Medicare tax on wages and compensation for high-income taxpayers

The healthcare tax credit and tax penalty won't have to be reported on your federal tax return until 2015 (when you file 2014 taxes), but figuring those amounts now may influence your 2014 health care insurance decisions.

Find out if these changes will impact your taxes with a free Year-by-Year Guide to Tax Implications of the ACA, provided by TaxACT.

For more information, you can also visit these websites:

TaxACT resources

  • Facts about your taxes and the ACA
  • See exactly how the ACA tax provisions will impact your 2013 federal taxes with TaxACT Free Federal Edition Preview Version, available in early October 2013.

IRS resources

placeholder for guideFree Guide: Year-by-Year Impact of ACA Changes

Did you know the Affordable Care Act includes tax law changes? Find out if they'll impact your taxes with TaxACT's free guide.

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