Online Tools Estimate ACA-Related Tax Liability

The IRS yesterday issued a reminder about the Taxpayer Advocate Service (TAS). TaxpayerAdvocate.IRS.gov has several available tools to help estimate ACA-related credits and payments for, which the IRS email divided into two categories: employers and individuals. TAS provides two employer-specific online tools, the Employer Shared Responsibility Provision Estimator and the Small Business Health Care Tax Credit Estimator, and two individual-specific tools, the Premium Tax Credit Change Estimator and the Individual Shared Responsibility Payment Estimator. TAS, an organization headed by Taxpayer Advocate Nina Olson, provides taxpayers with information about their tax-related rights and safeguards them from unfair practices. Aside from developing helpful online tools like these estimators, the Taxpayer Advocate actively engages the tax community by hosting public forums for discussing the evolving needs of the industry, evaluating IRS practices, and looking for ways to improve the agency’s service for taxpayers. Just as her recent involvement in the discussions surrounding the Future State plan are centered on the changing needs of the tax industry, these online-based tools are an easily accessible way to help your clients satisfy their ACA-related tax liability. Source: Internal Revenue Service