Affordable Care Act to impact tax season for thousands in Southwest Virginia

Affordable Care Act to impact tax season for thousands in Southwest Virginia (Image 1) (Copyright by WSLS - All rights reserved)

ROANOKE (WSLS 10) - Tax season is just around the corner and thousands in Southwest Virginia could see changes when filing this year.

For anyone who purchased insurance through Healthcare.gov, they will have to indicate that on their tax return.

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A new form called the "1095-A" will allow the IRS to see how much was spent on insurance and what credits were given.

For a number of people that have not filed in years, they could now be required to in order to prove they complied with the Affordable Care Act.

If you did not purchase insurance last year and were required to, the first penalty will be accessed this year.

A penalty of $95 or 1 percent of your income, whichever is higher, is the charge for not complying.


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