Solutions to Make Better Decisions with Your Taxes and Money

7 Life Events That Qualify You for Special Enrollment Period

7 Life Events That Qualify You for Special Enrollment Period - TaxACT Blog

Under the Affordable Care Act you can usually only buy a health insurance plan, apply for subsidies to help pay for coverage, or switch plans is during the annual open enrollment period. The purpose of this rule is to keep people from waiting until they are sick or they suspect they may be sick to […]

IRS Sets July 31 as Deadline to File 2014 Tax Returns for ACA Premium Tax Credit

Deadline to File 2014 Tax Returns for ACA Premium Tax Credit - TaxACT Blog

The IRS has just announced some important information for taxpayers who filed an extension for the 2014 tax year. The deadline for filing your 2014 Federal return is October 15, 2015, but you may want to file sooner. If you purchased health insurance coverage through a government-sponsored health insurance marketplace and want to keep your […]

ACA Advance Premium Tax Credits Continue

ACA Advance Premium Tax Credits Continue - TaxACT Blog

On Thursday, June 25, 2015, the Supreme Court ruled in favor of tax subsidies for qualified taxpayers who purchase insurance through federally-run exchanges. In short, advance premium tax credits will continue. This is good news for millions of Americans who enrolled in health insurance through the federal marketplace and receive tax subsidies to help offset […]

What Are the Tax Subsidies for the Affordable Care Act?

What Are the Tax Subsidies for the Affordable Care Act? - TaxACT Blog

One of the central objectives of the Patient Protection and Affordable Care Act — also known as the ACA or “Obamacare” — is to make health care coverage more affordable for millions of Americans who previously couldn’t get, or couldn’t pay for, health insurance. The ACA accomplishes this, in part, by offering tax subsidies to […]

11 Reasons You Won’t Have to Pay a Health Insurance Tax Penalty

11 Reasons You Won’t Have to Pay a Health Insurance Tax Penalty - TaxACT Blog

It’s just about Super Bowl time, and the Oscars aren’t far behind, so maybe you’re making some bets in the office pool. (Of course we would never endorse illegal gambling!) You know, getting some skin in the game for a few bucks. While winning a fistful of cash would be nice, hopefully you won’t mind […]

How the Affordable Care Act May Impact Your 2014 Tax Return

How the Affordable Care Act May Impact Your 2014 Tax Return - TaxACT Blog

The 2014 tax year brings some new changes, thanks to the Affordable Care Act, or ACA. You may need to answer more questions as you prepare your return, and you may have to pay more – or less – tax based on the provisions of the ACA. Here’s how the ACA may affect your 2014 […]

3 Reasons to Trade in Your COBRA Policy for an ACA Plan

3 Reasons to Trade in Your COBRA Policy for an ACA Plan - TaxACT Blog

Losing your job or making a career transition is stressful — and can knock you for a loop like a punch to the solar plexus. Then there’s the added pressure of securing health insurance until you land a new job, or a new employer’s coverage kicks in. In the past, many people avoided a gap […]

How Skipping the ACA Open Enrollment Could Cost You

How Skipping the ACA Open Enrollment Could Cost You - TaxACT Blog

The Thanksgiving holiday is always a time to reflect and remind ourselves what we’re grateful for: family, friends, a good job . . . okay and those door-busting Black Friday deals. In the spirit of the season, you’re probably thanking your lucky stars you’ve already got health insurance and you don’t have to worry about […]

How the Advanced Premium Tax Credit Impacts 2014 Tax Returns

How the Advanced Premium Tax Credit Impacts 2014 Tax Returns - TaxACT

If you bought health insurance through a government-sponsored marketplace, you may be receiving a tax credit that helps pay for your health insurance premiums. Because the credit is directly sent to your insurance company to offset your premiums, you never see the cash. It would be easy to forget about the credit altogether. If nothing […]

Are You Uninsured? Find Out If You Qualify for a Health Insurance Penalty Exemption

Are You Uninsured? Find Out If You Qualify for a Health Insurance Penalty Exemption - TaxACT

2014 is the first year that individuals in the U.S. may have to pay a penalty if they don’t have sufficient health insurance under the Affordable Care Act. If you have minimum essential coverage through your employer or that you’ve purchased on your own or through your state’s marketplace, you likely don’t need to worry […]

Read This Before You Let Your ACA Plan Autorenew for 2015

ACA Plan Autorenew for 2015 - TaxACT

If you are enrolled in a health insurance plan you purchased through the Affordable Care Act exchanges (or marketplaces), your plan is set to autorenew this fall. You don’t have to do anything extra to keep your policy in force for 2015. That’s the good news. The bad news is that if you don’t look […]

4 Money Mistakes Millennials Make

4 Money Mistakes Millennials Make - TaxACT

Ever kick yourself for not planning ahead financially or for making purchases you later regretted? You’re not alone. It’s easy to make a few missteps when you’re first starting out and still learning how to stick to a budget. Although there are a few things other generations can learn from Millennials, here’s a look at […]

Miss the Deadline to Purchase Health Insurance? Maybe Not!

Miss the deadline to purchase health insurance? Maybe not! - TaxACT

April 15th marked the no-kidding-around end of the first open enrollment period for signing up for a new health care plan via the Affordable Care Act (ACA). The Obama administration (and several states) extended two weeks of wiggle room to those who (scout’s honor) started signing up before March 31 deadline but ran into a […]