Filling out a tax return will be more complex for millions of people, thanks to the health reform law. This will affect taxpayers and preparers alike. Start with the health premium tax credit,
applicable for coverage bought through an exchange. Filers will have to reconcile subsidies they got in advance with the actual credit they are entitled to. Folks will use Form 8962 to make this calculation. The individual mandate has also kicked in.
Filers with coverage all year for themselves and their dependents get off easy: They only have to check a box on their returns. This includes, for example, employer-provided insurance meeting minimum federal standards and policies bought through an exchange, as well as Medicare, Medicaid, Tricare and veteran’s coverage.