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How the Affordable Care Act Impacts Your Taxes This is the second year taxpayers will be reporting their health insurance status on tax returns. While most taxpayers are familiar with the process
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The act that impacts your taxes is the Tax Cuts and Jobs Act (TCJA) which was signed into law in 2017.
All individuals and businesses that earn income are required to file taxes impacted by the TCJA.
You can fill out your taxes impacted by the TCJA by using the appropriate tax forms provided by the IRS and following the instructions carefully.
The purpose of the TCJA is to simplify the tax code, reduce tax rates, and stimulate economic growth.
You must report your income, deductions, credits, and any other relevant financial information on taxes impacted by the TCJA.
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