The IRS issued a little warning to the American people. They released a series of Obamacare “Health Care Tax Tips” in order to assist us when filing our tax returns in the year 2015. The warning indicates that you must have qualifying health insurance or face a “shared responsibility payment,” also known as the Obamacare individual mandate tax. In essence, if you did not have health insurance and did not qualify for an exemption, then you may be required to pay that Obamacare tax when you file your returns.
I’m wondering how many of the ill-informed saw that one coming. If they had only listened to the Tea Party, maybe they could have been spared.
Remember when Obama promised this? “I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
I’m thinking this may be grounds for more Pinocchio’s as this is only one of at least 7 Obamacare tax hikes that will affect American families making less than $250,000 per year.
So what happens if you lose your coverage or have to cancel your health insurance policy? You can read more here: http://www.atr.org/irs-warns-obamacare-tax-must-paid-a8164