{"id":22137,"date":"2015-01-07T11:02:35","date_gmt":"2015-01-07T16:02:35","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=22137"},"modified":"2015-01-07T11:02:35","modified_gmt":"2015-01-07T16:02:35","slug":"irs-tax-refunds-could-be-much-smaller-under-obamacare-this-year","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/22137\/irs-tax-refunds-could-be-much-smaller-under-obamacare-this-year\/","title":{"rendered":"IRS Tax Refunds Could be Much Smaller Under ObamaCare This Year"},"content":{"rendered":"

Anyone still looking for a fundamental change to the federal tax code need look no further than ObamaCare.<\/p>\n

H&R Block, one of the nation\u2019s largest tax preparation companies, is promoting its free \u201cACA Tax Impact Analysis<\/a>\u201d on January 8, 2015, in order help taxpayers understand the true cost of ObamaCare.<\/p>\n

Reporting by The Hill<\/em> quotes an H&R Block executive as saying that the controversial health law is \u201cthe biggest tax code change\u201d<\/a> in two decades. Its passage \u201chas made health care a tax issue and is going to make filing taxes more complicated this year.\u201d<\/p>\n

Perhaps the biggest surprise coming to millions of taxpayers is the penalty amount to be assessed for not complying with the law\u2019s individual mandate. Most people know that the IRS can levy a $95 fine for being uninsured this year (which rises every subsequent year). But many do not realize that\u2019s only one option. ObamaCare authorizes fines up to 1% of annual income (which also rises every year), if that amount is greater than $95.<\/p>\n

Simply put, a lot of people who passed on ObamaCare\u2019s costly version of \u201caffordable\u201d insurance thinking they would only have to write a $95 check may be missing a much bigger chunk of their IRS refund this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Anyone still looking for a fundamental change to the federal tax code need look no further than ObamaCare. H&R Block, one of the nation\u2019s largest tax preparation companies, is promoting its free \u201cACA Tax Impact Analysis\u201d on January 8, 2015, in order help taxpayers understand the true cost of ObamaCare. Reporting by The Hill quotes […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3308,735,35,3005,4637,105],"class_list":["post-22137","post","type-post","status-publish","format-standard","hentry","category-posts","tag-health","tag-irs","tag-obamacare","tag-penalty","tag-refund","tag-tax"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/22137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=22137"}],"version-history":[{"count":6,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/22137\/revisions"}],"predecessor-version":[{"id":22143,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/22137\/revisions\/22143"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=22137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=22137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=22137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}