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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhite House Seeks to Limit Health Law’s Tax Troubles
WASHINGTON Obama administration officials and other supporters of the Affordable Care Act say they worry that the tax-filing season will generate new anger as uninsured consumers learn that they must pay tax penalties and as many people struggle with complex forms needed to justify tax credits they received in 2014 to pay for health insurance.
The White House has already granted some exemptions and is considering more to avoid a political firestorm.
Mark J. Mazur, the assistant Treasury secretary for tax policy, said up to six million taxpayers would have to pay a fee this year because they made a choice not to obtain health care coverage that they could have afforded.
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The penalties, approaching 1 percent of income for some households, are supposed to be paid with income taxes due April 15. In addition, officials said, many people with subsidized coverage purchased through the new public insurance exchanges will need to repay some of the subsidies because they received more than they were entitled to.
Read the whole article at: http://www.nytimes.com/2015/02/01/us/politics/white-house-seeks-to-limit-health-laws-tax-troubles.html?_r=0
JaneyVee
(19,877 posts)riversedge
(70,242 posts)work parttime, not insured the full time. etc etc. A nightmare
annabanana
(52,791 posts)under staffing and severe budget cuts. There's no one to come getcha
OKNancy
(41,832 posts)It wasn't complex at all.. IF you use Turbo Tax and I assume any other online filing.
It was pretty easy.
We had to pay a penalty because we underestimated our income. I knew that was going to happen because we sold some stocks to help out one of our children.