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February 03, 2017 at 10:17 AM
U.S. taxpayers may be doing a better job of complying with Affordable Care Act health insurance reporting rules.
The ACA now requires many people to have solid health coverage, or “minimum essential coverage,” for most of the year or else pay a penalty when they file their federal income taxes.
The Treasury Inspector General for Tax Administration says in a new report that 121.5 million individual tax returns for 2015 gave the Internal Revenue Service information about whether or not the filer’s family had minimum essential coverage in 2015.
That was up from 114.3 million filers who gave the IRS information about 2014 coverage when they filed their returns for 2014, the year the new ACA tax rules took effect.
Related: IRS may have big ACA employer tax woes, advocate says
The number of individual returns that included no information about health coverage fell to 18.1 million for the 2015 returns processed by May 5, 2016.
A year earlier, the IRS had processed 23 million individual returns for 2014 that provided no 2014 health coverage information.
The percentage of individual returns processed that included health coverage information increased to 87 percent for the 2015 tax returns, from 83 percent for the 2014 returns.
