Affordable Care Act Stands After Supreme Court Ruling
Filed under:Tax Advisory: U.S. Federal
In recent years, many taxpayers and CPA firms filed protective claims to amend tax returns for potential changes to the Affordable Care Act (ACA). On Monday, June 21st, the Supreme Court decided that the plaintiffs from California vs. Texas (127 AFTR 2d 2021-777) could not show that the minimum essential coverage provisions of the ACA was unconstitutional.
What does this mean? It means that taxpayers cannot amend prior years’ tax returns to remove the taxes imposed on Net Investment Income and additional Medicare Taxes.
If you have any questions, you should consult your tax advisor on whether the Supreme Court decision impacts your personal income tax return.