Under the Affordable Care Act, you will need to report minimum essential coverage, report or claim a coverage exemption, or make an individual shared responsibility payment when you file your 2014 federal income tax return. If you are not required to file a tax return and don't want to, you do not need to file a return solely to report your coverage or to claim an exemption.

If you and your dependents all had minimum essential coverage for each month of the tax year, you will indicate this on your 2014 tax return by simply checking a box on Form 1040, 1040A or 1040EZ; no further action is required.

If you obtained a coverage exemption from the Marketplace or you qualify for an exemption that you can claim on your return, you will file Form 8965 with your tax return.

For any month you or your dependents did not have coverage or a coverage exemption, you will have to make a shared responsibility payment. The payment will be reported on Form 1040, line 61 in the Other Taxes section and on the corresponding lines on Form 1040A and 1040EZ.

See the Claiming and Reporting an Exemption and Individual Shared Responsibility Provision – Reporting and Calculating the Payment pages on IRS.gov for more information about figuring and reporting the payment.

Regardless of your health insurance and tax situations, TaxAct will guide you every step of the way. Just answer simple questions, and TaxAct will do the math and complete all the necessary tax forms. Get started now with TaxAct Free Edition to file your federal taxes absolutely free!

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Upcoming Tax Dates

August 1 — Form 720 taxes
File Form 720 for the second quarter of 2016.

August 1 — Wagering tax
File Form 730 and pay the tax on wagers accepted during June.

August 1 — Social security, Medicare, and withheld income tax
File Form 941 for the second quarter of 2016. Deposit or pay any undeposited tax under the accuracy of deposit rules.

August 1 — Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2016 but less than $2,500 for the second quarter.

August 1 — Federal unemployment tax
Deposit the tax owed through June if more than $500.

August 1 — All employers
If you maintain an employee benefit plan, such as a pension, profitsharing, or stock bonus plan, file Form 5500 or 5500EZ for calendar year 2015. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.

August 10 — Employees who work for tips
If you received $20 or more in tips during July, report them to your employer Details

August 10 — Social security, Medicare, and withheld income tax
File Form 941 for the second quarter of 2017. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.

August 10 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the first 15 days of July.

August 12 — Regular method taxes
Deposit the tax for the last 16 days of July.

August 15 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in July.

August 15 — Nonpayroll withholding
If the monthly deposit rule applies, deposit the tax for payments in July.

August 25 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the last 16 days of July.

August 29 — Regular method taxes
Deposit the tax for the first 15 days of August.

August 31 — Wagering tax
File Form 730 and pay the tax on wagers accepted during July.

View More Tax Dates