Liberty Tax Service Offices to open early this Tax Season The - TopicsExpress

Liberty Tax Service Offices to open early this Tax Season The goal is to help clients understand tax implications of Affordable Care Act Virginia Beach, VA (November 6, 2014) – In an effort to help Americans understand the tax implications of the Affordable Care Act (ACA) and to offer health insurance enrollment assistance, Liberty Tax Service (NASDAQ: TAX) and its franchisees will open many of their offices across the country on November 15. The 2014 Tax Year is the first in which Americans and legal residents in the country will be required to show proof of health insurance coverage as part of their income tax return. According to IRS Commissioner, John Koskinen, the implementation of the ACA, along with other factors, could make 2015 one of the most complicated tax seasons in a long time. “We could see early on how the new law would make the tax process more complex for taxpayers,” said Liberty Founder and CEO John T. Hewitt. “We understood that it was a game-changer. It has created an intersection of taxes and health insurance, so we have adjusted our business to help our customers from beginning to end with enrolling in insurance and filing their taxes.” Liberty Tax Service created a team of ACA specialists who spent months evaluating the law, offering training on its requirements, and adding insurance agents to many Liberty Tax offices. The early opening will allow Liberty to provide ACA seminars to taxpayers, assist those who need to complete an application for exemption from coverage, and to help enroll people in health insurance coverage. Enrollment in the Health Insurance Marketplace begins on November 15 and runs through February 15, 2015. Liberty will also be able to assist those who have already enrolled in coverage through the Health Insurance Marketplace but may need to update their status before year’s end. Status updates, such as a change in family size or household income, will help the insured to avoid receiving too much or too little payment from the premium tax credit. Liberty’s goal is to make what appears to be a difficult tax season as smooth as possible for individual taxpayers.

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