ACA tax deadline could create uproar
09/02/2014 7:05 PM
09/03/2014 12:05 AM
The botched rollout of HealthCare.gov was not the end of the challenges for the Affordable Care Act. A tax deadline next year could create another uproar. The U.S. Department of Health and Human Services is supposed to send out a 1095-A form showing how much a person received in tax credits to help pay for health insurance through ACA. If those forms aren’t sent out by the Jan. 31 deadline, it could delay the tax filings of millions of Americans. Also, some of those filers could be in for a shock. If someone ends up earning more money this year than he estimated when enrolling for insurance, he may have to pay back some of the tax subsidy. “Since the whole system is brand new,” Associated Press reported, “experts are predicting that millions will end up having to repay money.” – Phillip Brownlee
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