Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Obamacare to make filing income taxes a nightmare for many low-income taxpayers this year
americanthinker.com ^ | 1-20-2015 | Thomas Lifson

Posted on 01/20/2015 7:29:29 AM PST by servo1969

There are gong to be many millions of newly befuddled, fearful, and angry taxpayers this April, hit with the consequences of Obamacare’s social engineering when they try to file their taxes in April. Many will suffer unexpected financial penalties and costs, especially those accustomed to filing under the simplified tax forms applying to straight salaried people with standard deductions.

H&R Block is warning that “[n]o one can understand” the New Obamacare tax code requirements for filing this year. In fact, millions of people accustomed to filing the postcard-sized 1040EZ form will now have to file extremely complicated and detailed forms, one of which (IRS Publication 5187) has a 21-page single-spaced instruction manual.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: 0carenightmare; irs; irsobamacare; obama; obamacare; obamacaretaxes; tax
Navigation: use the links below to view more comments.
first previous 1-2021-4041-43 last
To: Dawn53Fl
I don't believe a tax return/refund is going to be held up while they figure out if they've met the qualifications for Obamacare subsidies.

For 2014 there were somewhere around 7M exchange signups. Most of those folks are likely to have taken the advanced premium tax credit. Everyone seeking a subsidy or has taken an advanced one has to complete Form 8962 and submit it with their regular 1040 form to reconcile payments. Unless the IRS database isn't written yet, it will be reconciled at tax filing.

41 posted on 01/21/2015 6:00:41 AM PST by EVO X
[ Post Reply | Private Reply | To 25 | View Replies]

To: Mr. K

I know plenty of divorced blue collar fathers who earn less than 40K a year and pay ENORMOUS New York Child Support who can’t afford health insurance after paying taxes AND “child” support (which the father pays taxes on and the mother receives tax free).

Of course there is no consideration that the father may be paying up to half (and beyond)of his NET salary in “child” support.

Oh and I can’t stand those Jackson Hewitt tax commercials with the commie Pete Seeger singing “I’ve Been Workin’ on the Railroad” in the background!


42 posted on 02/01/2015 12:47:58 PM PST by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
[ Post Reply | Private Reply | To 3 | View Replies]

To: servo1969

There are places low income people can go to get their returns filled out if the process is beyond them. AARP volunteers are one of them.


43 posted on 02/01/2015 12:55:42 PM PST by Lizavetta
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-43 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson