Obamacare recipients must deal with IRS this tax season (Pelosi knew)

Daily Democrat ^ | 1/24/15 | Tracy Seipel

[Libloather]

More than a million Californians benefitted from federally subsidized health insurance in 2014 through the nation's health care law. But now the law is about to give many of them a migraine.

It's tax season, and for the first time Obamacare is showing up on tax forms. And it's leading to confusion and angst over new rules and their impact on taxpayers' pocketbooks.

That's because taxpayers must now reconcile the subsidy they received with the income they estimated they would earn last year. In addition, people who ignored the Affordable Care Act's requirement to obtain health insurance in 2014 now face a financial penalty levied by the Internal Revenue Service — unless they qualify for an exemption.

"We think people may be kind of surprised about that when they do their taxes," said Jackie Perlman, principal tax research analyst at the H&R Block Tax Institute in Kansas City, Missouri. "It's not that people don't know there's an (Obamacare) connection to their taxes. They're just not sure what it is."

[Libloather]

"I'm worried," said Ramirez, who is on crutches after fracturing her left tibia during a family flag-football game over the holidays. So any reduction in their refund, she said, "is going to hurt. I gave them what I thought was the correct estimate, and now it may be a little bit more," she said with a sigh. "I could have used the refund to pay for my medical expenses."

Hang on tight there Katherine. Its supposed to get worse next year.

[E. Pluribus Unum]

“Did you really think we want those laws observed?" said Dr. Ferris. "We want them to be broken. You'd better get it straight that it's not a bunch of boy scouts you're up against... We're after power and we mean it... There's no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren't enough criminals one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws. Who wants a nation of law-abiding citizens? What's there in that for anyone? But just pass the kind of laws that can neither be observed nor enforced or objectively interpreted – and you create a nation of law-breakers – and then you cash in on guilt. Now that's the system, Mr. Reardon, that's the game, and once you understand it, you'll be much easier to deal with.” ― Ayn Rand, Atlas Shrugged

[silverleaf]

take a pain pill, Katherine

[Veggie Todd]

We have to pass the bill to see what’s in it.

[Norm Lenhart]

Que excuses by mindless GOP voters for funding IRS/Onamacare 4 times...

[House Atreides]

Come June, if the Supreme Court rules as I expect them to in favor of the plaintiffs in King v Burwell, the IRS will have its work cut out for them in refunding any Obamacare penalties they assessed against folks in “federal exchange only” states. Assuming our idiotic GOPe congressional leaders don’t try to rescue Obamacare, this will add further inducements for the flow of people, jobs and wealth from blue states to red states (most of which are Obamacare “federal exchange only” states.

[savedbygrace]

I’ve recently learned the benefit of having Medicare, which I qualified for in the past 30 days or so: If I ever lose health insurance through my employer, I won’t have any ObamaCare tax for not paying for ObamaCare.

That’s one.

[alloysteel]

Now that we ARE finding out what is in the “Patient Protection and Affordable Care Act of 2010”, how are we going to get that can of worms sealed up again?

If they want lawless, we can sure show them lawless.

[Begin]

Better put some ice on that.

[Thank You Rush]

I like that AND another favorite of mine is:

I know you’ve always known what it was you wanted but your game is up because now we know it too. John Galt

[freeangel]

Good! Now the recipients that voted for the nitwit will find out what was really in the bill.

[lavaroise]

Only the government is allowed to bankrupt people, it is not the doctors to charge them (sarc off)

[piytar]

Free stuff is not free, ya Low Information Voters. And this little bite is NOTHING compared to what is coming. Wait until your kids start dying because your Obamacare “insurance” does not equal actual healthcare. It is coming...

[sasquatch]

The only thing Pelosi knows about is the cost to the taxpayers of botox.

[PGalt]

We Grubered some “stupid Americans”.

[Roger Kaputnik]

And that is the hard truth. So sorry and too bad for them, eh?

[VRW Conspirator]

Pelosi sold her soul. She will lie about anything.

[EVO X]

Reading between the lines in this story is seems to me Katherine and her husband are just under the subsidy cutoff level of 400% FPL. They will either get dinged for a couple hundred if they stay under the threshold, or ~$1.5K if they go over. With a an expected refund of $3K, they should adjust their withholding and pay the premiums up front.