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Tag Archive for No Insurance

Tax Penalty For No Insurance Ratchets Up In 2015

Article Highlights:

• Flat dollar amount penalty
• Percentage of income penalty
• Household income
• Modified adjusted gross income
• Tax filing threshold

The penalty for not having minimum essential health insurance for yourself and other members of your tax family takes a substantial jump in 2015. For 2014, the penalty was the greater of the flat dollar amount ($95 for each adult plus $47.50 for each child under Read more