The Affordable Care Act has been in existence for three years, but its real tax impact will be felt beginning on the first day of January, 2014.
Franklin, NC (PRWEB) March 16, 2013
A new website provided by Drake Software hits the sweet spot, giving taxpayers and employers a to-the-point, layman’s overview of the Affordable Care Act’s (ACA) looming tax implications. The site, located at http://www.acacalculators.com, makes the overwhelming law easy to digest in the form of Frequently Asked Questions (FAQs) and free penalty and credit calculators.
“The Affordable Care Act has been in existence for three years, but its real tax impact will be felt beginning on the first day of January, 2014,” says John Sapp, Vice President of Strategic Development for Drake Software. “American taxpayers and small businesses need to understand the impact of this unprecedented legislation. Our Tax Professional partners asked us to provide a resource they could use to help prepare their clients - both individual taxpayers and small businesses - for the tax implications of the ACA. ACACalculators.com will help taxpayers determine eligibility for the Premium Tax Credit, estimate the amount of credit they can claim in 2014, and calculate the penalty that will be assessed for being uninsured. Employers can determine if they are required to provide insurance and calculate the penalty for not providing adequate coverage to employees. ”
In addition to the free calculators and FAQs, the site links to resources at the White House, the US Department of Labor, the IRS, the Medicaid website, and the “Health Care and You” website.
About Drake Software
For 34 years, Drake Software has been committed to providing tax professionals the tools they need to build their businesses and attract new clients. Drake maintains a steady focus on value, consistent excellence in federal and state programming, and free electronic filing. In addition to tax preparation software, Drake offers real-time Web reporting, preparer websites, online tax research, free bank-product software, and state software for all states.