The Internal Revenue Service has announced initial plans for processing tax returns involving the Earned Income Tax Credit and Additional Child Tax Credit during the opening weeks of the 2017 filing season. The IRS is sharing the information now to help the tax community prepare for the 2017 season, and plans are being made for a wider communication effort this summer and fall to alert taxpayers about the changes that will affect some early filers.
Since the implementation of the Affordable Care Act (ACA), all Americans or legal residents are now required to have health insurance or a coverage exemption. Otherwise, you will be subject to an ACA penalty.
