TurboTax®, the nation’s leading tax preparation service from Intuit Inc. (Nasdaq:INTU), is offering a suite of free, online tools to assist taxpayers evaluating their health insurance choices under the Affordable Care Act.
Designed to help make sure there are no surprises come tax time, these free, easy-to-use tools give taxpayers more control and insight into their health insurance and tax choices, so they can make the best decisions for themselves and their families. They include:
Open Enrollment
This is the second year taxpayers must report their health insurance status on their tax returns. Like last year, nearly 80 percent of taxpayers will simply need to check a box in TurboTax to confirm they have qualifying health coverage. They will not be required to file additional forms.
Those who purchased a health insurance plan on healthcare.gov or a state Marketplace will once again receive Form 1095-A, which confirms coverage, premiums and any subsidies received to help pay for health insurance. In TurboTax, entering 1095-A information is as simple as entering a W-2.
Marketplace open enrollment for 2016 is now open and runs through Jan. 31, 2016. For coverage to take effect on Jan. 1 individuals must select a plan by Dec. 15. For more information about open enrollment, the free TurboTax tools and additional tax tips, visit the TurboTax blog.
About Intuit
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals.
Its flagship products and services include QuickBooks® and TurboTax®, which make it easier to manage small businesses and tax preparation and filing. Mint.com provides a fresh, easy and intelligent way for people to manage their money, while ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year 2015. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.