What’s New for 2015 —Tax Law changes every year. We keep track of all the tax law change to help you get your maximum refund and credit. Here are highlight of changes in 2015 for your reference.
Due date of return. File your tax return by April 18, 2016. The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Colum-bia—even if you do not live in the District of Columbia. If you live in Maine or Massachusetts, you have until April 19, 2016. That is be-cause of the Patriots’ Day holiday in those states.
Individual Tax Identification number (ITIN):
IRS is taking vital steps to strengthen and protect the integrity of the process for issuing the individual taxpayer identification number (ITIN). Beginning in 2016, the IRS will deactivate an ITIN that has not been used on at least one tax return in the past five years. We are Certified Acceptance Agents (CAA) and we are able to help to apply ITIN for you with right documents to IRS.
Affordable Care Act (ACA) Tax Provisions:
The law requires you and your dependents to have health care coverage, an exemption, or make a payment with your return. If you purchased coverage from the Health Insurance Marketplace, you may be eligible for the premium tax credit. See ACA topics later. You may receive one or more forms relating to health care coverage you had last year. New Forms are 1095-A Health Insurance Marketplace Statement, 1095-B Health Coverage, and 1095-C Employer-Provided Health Insurance Offer and Coverage which may affect your individual income tax return. If you are expecting to receive a Form 1095-A, you should wait to file your 2015 income tax return until you receive that form. However, it is not necessary to wait for Forms 1095-B or 1095-C in order to file.