True... it won't affect everyone. But, for the one's it does hit? It's gonna leave a mark. Dealing with the IRS NOT fun.
Yessir...you are right. The ones it will affect the most are those who are working, pay some taxes and get subsidies. The ones who do not pay taxes: I am not sure what the impact will be for them...a lesser subsidy? lower EIC? The ones who work and got a small raise or something will find the clawback to be hurtful. I HOPE it isn’t too severe. If you got a small raise say %.50 an hour or something, it might not be too awful bad. Probably hurt more if you crossed an income threshold.
I reckon it might be bad in a place where they artificially upped the minimum wage...those folks who went from a subsidy based on $8 or $9 per hour now have a wages of $12.5 or $15...well that’s just going to suck for them. Reckon they will find out about no free lunches.
I was concerned with them asking intrusive questions but according to the instructions for 1040 line 61 is just a check box.