2014 tax return tips
The Affordable Care Act & 2014 Tax Returns
By C. Murray Saylor, Jr.
Chair, Tax Section
he Affordable Care Act (ACA), nicknamed Obamacare,
is a factor in 2014 income tax return filing for individuals.
2014 is the first year the law requires new forms related
to the ACA.
The Shared Responsibility provision of the law requires
each member of a family to do one of the following:
• Have qualifying health coverage called minimum essential
• Qualify for a health coverage exemption, or
• Make a Shared Responsibility payment when the 2014
federal income tax return is filed.
The Shared Responsibility payment is also referred to as a
penalty for n