TaxACT Free Edition and Deluxe are updated with the latest tax law changes and 2015 ACA calculations. After consumers answer simple questions about their 2014 taxes and health insurance, TaxACT generates a personalized HealthWatch report with calculations and information for marketplace applications, including:
- A detailed breakdown of 2014 income for a more accurate estimate of 2015 income to help recipients of the Advanced Premium Tax Credit avoid a large bill on 2015 tax returns
- Policy numbers for any current plans held by household members
- Basic information for each household member
HealthWatch also includes exemption guidance and an estimated individual shared responsibility payment for all of 2015 based on 2014 household and income."TaxACT's ACA calculations give an advantage to Americans applying for 2015 marketplace," says TaxACT President JoAnn Kintzel. "Having those exact numbers means the Premium Tax Credit and subsidy amounts you receive for 2015 are less likely to impact your refund in 2016."