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If we do not purchase Obamacare what amount will be be taxed if our family total income is $175,000?

Obamacare Obamacare Tax Penalities
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Tax Professional Answers

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Chuck Heyde, CPA, CGMA
The penalty will be the greater of a flat fee amount (for each individual not covered by health insurance) or a percentage of household income over a threshold amount. For applicable individuals who are at least age 18, the maximum applicable annual dollar amount is $95 for 2014, $325 for 2015, and $695 for 2016 and later years. 

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