Tax Refunds to Take a Hit Thanks to Obamacare

Health care premiums could eliminate your tax refund

   

Obamacare recipients could receive less money from tax refunds next year.

money and health 300x200 Tax Refunds to Take a Hit Thanks to ObamacareHealth care premiums tied to the Affordable Care Act may give you a headache come tax season. Tax refunds could be reduced or eliminated entirely if your 2014 income is lower than you estimated it to be when you applied for Obamacare.

Laws connected to the health care plan affect the amount of money you’ll receive from tax refunds. Unless you change your estimated income for the year on HealthCare.gov to reflect your new salary, part of that income will go to Obamacare.

The Obama administration urges consumers to constantly update their information on the website to accurately reflect any changes.

The opinions contained in this column are solely those of the writer.
 
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