The Taxpayer Advocate Service (TAS), an independent organization within the Internal Revenue Service, has developed several tools for individuals and employers that may help them estimate Affordable Care Act related premium tax credits and potential liability payments. There are three estimators available at the TAS website:
- The Employer Shared Responsibility Provision Estimator can help employers understand how the Employer Mandate works and learn how the provision may apply to them.
- The Individual Shared Responsibility Provision Payment Estimator can help individuals estimate the amount they may have to pay for not having minimum essential coverage during the year.
- The Premium Tax Credit Change Estimator can help individuals estimate how their eligibility for premium tax credits may change during the year due to income or family size changes.
These tools also provide key terms and links to additional resources. It’s important to remember they only provide estimates for premium tax credits and potential liability payments. TAS reminds users they should not rely upon them for an accurate calculation.