Monday, April 13, 2015

Can the White House please review some of this. As far as I am concerned if the federal government made a mistake, they own it.

It would appear the couple didn't bargain for too much of a subsidy, but, they are being penalized because they received one. It might be advantageous for the HHS Secretary to issue rules for tax consulting agencies if there aren't such available already. I realize this is late in the season, but, it is not at all too late to refile.

April 13, 2015


Vadim Jigoulov and his wife (click here) were hoping for a small tax refund after the birth of their second child. Instead they owe the federal government more than $2,000 related to subsidies they received to help them buy health insurance under Obamacare....

...And some taxpayers are finding they received too much in subsidies when they bought health insurance through the exchanges for 2014, triggering a tax penalty.

"For most people, really the majority of people, there isn't much more involved than just checking a box on the return saying, 'Yes, I had insurance all year,'" said Jackie Perlman, a principal tax research analyst at the Tax Institute at tax preparation firm H&R Block. "But if you're someone who didn't have insurance all year, or didn't have insurance at all, you've got some work to do."

Tax returns are due by Wednesday, when they must be electronically filed or postmarked. For those waiting until the last minute, the U.S. Postal Service issued a reminder that post offices will be open regular hours on April 15.
Every tax season comes with tweaks to the tax code that can add to the workload....