Posted on 12/28/2014 7:11:26 AM PST by Libloather
If you're one of the almost 6 million individuals who received a government subsidy toward the health insurance you bought on Healthcare.gov or your state's insurance exchange, then prepare for a possible delay in processing your 2014 tax return and refund.
That's because folks who bought subsidized health insurance will receive a new tax form called Form 1095-A Health Insurance Marketplace Statement. The insurance exchanges are supposed to provide these forms.
The problem is it's unclear whether the processing steps for this form have been finalized. In the past, whenever new forms and processing procedures aren't finalized and changes are made late in the year, delays in filings and tax refunds almost always occurred.
(Excerpt) Read more at cbsnews.com ...
The delay may come from filling out all those forms.
Frankly, if you receive a ‘subsidy’ for your healthcare that isn’t related to your actually working for it (i.e., from your employer), I don’t really care how long or if you get your ‘refund’.
Refund?
Tax refund? What are those? All I ever get is a bill.
Based on the comment that convicts have no trouble in getting fraudulent returns to pay them back within six to eight weeks....I don’t see a problem. We certainly don’t deny convicts their money. Just put something down and mail it in....whatever you wrote...it’s better than fifty-fifty that you will get the check within two months. You can’t ask for a better system than this.
Why does ANYONE that subsists on Taxpayer Dollars get any BACK in the first place? Never understood that. It’s not like that money is EARNED in any measurable way.
Look at the bright side.
Those 15,000 lawyers and accounts the IRS hired to administer this complicated mess had a prosperous Christmas!
Write down the number and name of this form, because the early word is that it a total “cluster” at the IRS, and they are sending out forms to many people who shouldn’t get one.
And, you dasn’t just pitch them, or the IRS will send you a whopping bill or garnish your refund, or whatever. So you probably need professional tax advice.
Google the phrase "refundable credit" and draw your own conclusions.
I’m quittin’ my job tomorrow and getting knocked up with Quads, ASAP! ;)
I know - my question was rhetorical; I didn’t add the marker. :)
I have a a friend who has 10.00 an hour job 3 kids gets 6,000-7,000 back
each year NO FED taxes deducted from check ALL year OBAMANOMICS
at its best!!!!!!!!
Fun stuff, but like most FReepers SHOULD DO, but probably don’t, I monitor my withholding and make sure that I always OWE MONEY on April 15th. Next year, about $600 - so they can play all the games they want with refunds, but it’s not going to hurt me, not one bit.
Yes I’ve been writing big checks to my friends at the IRS for decades. I could never understand the refund thing.
Although in this era of trivial interest rates you’re not gaining much.
I would not be the least bit surprised if this is part of the”back end” of the program that still hasn’t been built, as we heard about late last year.
Agree on the interest side...but the idea that they cannot toy with your refund (as we, effectively, got it over the calendar year by under-withholding) is certainly sufficient reason.
...and now with Obamacare, it make A LOT MORE SENSE to under-withhold for people that aren’t signing up for that crap (i.e., young, healthy, people). Even to the point of taking some penalties for under-withholding (if their income isn’t predictable). And that’s because withholding of tax refunds is the ONLY WAY permitted to collect the non-insured penalty (at least until our dictator changes the law on its own)...so you’d be crazy to make it easy for them.
Bravo!
We had no health insurance this year. But no penalty here since we never get a refund. :-p
Yup. Same here.
I hope you meant that sarcastically because you WILL have a penalty and it will accrue interest and remain on your account until it is paid. The ONLY thing the IRS is prohibited to do with respect to an ACA penalty is to use their Liens and Levy power to make the collection.
Not worried. See tag line.
Seriously.
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