Health care: individual responsibility

You must either: Indicate that you, your spouse (if filing jointly), and your dependents had health care coverage throughout 2014, claim an exemption from the health care coverage requirement for some or all of 2014 and attach Form 8965, or make a shared responsibility payment if, for any month in 2014, you, your spouse (if filing jointly), or your dependents did not have coverage and do not qualify for a coverage exemption.

Premium tax credit

You may be eligible to claim the premium tax credit if you, your spouse, or a dependent enrolled in health insurance through the Health Insurance Marketplace.

Advance payments of the premium tax credit

Advance payments of the premium tax credit may have been made to the health insurer to help pay for the insurance coverage of you, your spouse, or your dependent. If advance payments of the premium tax credit were made, you must file a 2014 tax return and Form 8962. If you enrolled someone who is not claimed as a dependent on your tax return or for more information, see the instructions for Form 8962.

Form 1095-A

If you, your spouse, or a dependent enrolled in health insurance through the Marketplace, you should have received Form(s) 1095-A. If you receive Form(s) 1095-A for 2014, save it. It will help you figure your premium tax credit. If you did not receive a Form 1095-A, contact the Marketplace.

Medicaid waiver payments

If you received certain payments under a Medicaid waiver program for caring for someone who lives in your home with you, you may be able to exclude these payments from your income. See the instructions for line 21. If you reported these payments on your return for 2013 or an earlier year, see here. You may want to file Form 1040X to amend that prior year return.

Pell grants and other scholarships or fellowships

Choosing to include otherwise tax-free scholarships or fellowships in your income can increase an education credit and lower your total tax or increase your refund.

Personal exemption amount increased for certain taxpayers

Your personal exemption is increased to $3,950. But the amount is reduced if your adjusted gross income is more than:

  • $152,525 if married filing separately
  • $254,200 if single
  • $279,650 if head of household
  • $305,050 if married filing jointly or qualifying widow(er)
  • Alternative minimum tax worksheet

    We have added a worksheet to the instructions for line 45. If you are not sure whether you need to complete Form 6251, you can use this worksheet to see whether you should complete it.

    Mailing your return

    If you live in Missouri and need to make a payment with your paper return, you will need to mail it to a different address this year.

    Direct deposit

    To combat fraud and identity theft, the number of refunds that can be directly deposited to a single financial account or prepaid debit card is now limited to three a year. After this limit is exceeded, paper checks will be sent instead.

    Direct Pay

    The best way to pay your taxes is with IRS Direct Pay. It's the safe, easy, and free way to pay from your checking or savings account in one online session. Just click "Pay Your Tax Bill" on IRS.gov.

    Source: IRS Frequently Asked Questions and Answers