Key Tax Provisions in the Affordable Care Act: The IRS has posted a list of tax provisions under the Affordable Care Act that are now in effect. This list provides a brief explanation of the provision along with useful links to IRS documents, news releases, and questions and answers.
Some of the provisions listed on the site include:
- Small Business Health Care Tax Credit;
- Reporting of Health Coverage for Employees;
- Changes to Flexible Spending Arrangements;
- Health Insurance Premium Tax Credit;
- Health Coverage for Older Children;
- Group Health Plan Requirements;
- Medical Loss Ratio (MLR); and
- Limitation on Deduction for Compensation Paid by Certain Health Insurance Providers.
The site also mentions that additional information will be added as soon as it becomes available.