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One Of My Friends Is A Tax Professional And They Are Sharing Unbelievable Stories About The Tax Penalties For Taxpayers And Obamacare. I Am...
User Photo Caran Ebert, CPA
Tax Professional Level: Tax Enthusiast

Now that employers and insurance companies have to follow the rules. Insurance companies lobbied congress and got a 2 year extension to NOT FOLLOW THE ObamaCare RULES so they have been ripping people and employers...   Read More
Someone Told Me There Are Some Big Penalties Coming Up On My Tax Return As I Do Not Pay For Obamacare As I Cannot Afford It For My Family...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

For 2015, the penalty for not having coverage is $325 per adult and $162.50 per child or a maximum of $975 OR 2% of household income, whichever is higher. The 2% is calculated on household income above your filing...   Read More
How To Address Your Income When On ACA For 3 Mo Due To Unemployment And Estimated Based On YTD, But Dropped ACA Once Employed?
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

Unfortunately at this point the IRS and the Marketplace people you spoke with are correct. They, nor most tax pros have been given any direction in situations like yours. The IRS just last week released Pub 974...   Read More
If We Do Not Purchase Obamacare What Amount Will Be Be Taxed If Our Family Total Income Is $175,000?
User Photo Chuck Heyde, CPA, CGMA
Tax Professional Level: Tax Wizard

The penalty will be the greater of a flat fee amount (for each individual...   Read More

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