Affordable Care Act Tax Information for 2014The Department of Defense is not sending out Affordable Care Act (ACA) related tax forms for the 2014 tax year. You are to self-report, on your 1040 tax form, the months you, your family members, or both had minimum essential coverage.
For each month in 2014 you don’t have coverage, you may have to make a payment with your federal taxes. For more information, visit the IRS Shared Responsibility Provision page. .
ACA Tax Information for 2014As of January 2014, the Affordable Care Act requires:
For the 2014 tax year:
Health care plans, including TRICARE, report to the Internal Revenue Service which individuals have minimum essential coverage.
Chris Hardy, CFP®, EA, ChFC®, CLU®, NTPI Fellow®
Chris has been in the financial industry for over twenty years, which includes working with investments, insurance, mortgages, taxes and financial planning.