Millions to owe Obamacare tax penalty
By Tami Luhby @Luhby January 28, 2015: 4:03 PM ET
Were you uninsured in 2014? It’s time to pay the piper!
Some 3 million to 6 million Americans will have to pay an Obamacare tax penalty for not having health insurance last year, Treasury officials said Wednesday. It’s the first time they have given estimates for how many people will be subject to a fine.
The penalty is $95, or 1% of income above a certain threshold (roughly $20,000 for a couple). So you could end up owing the IRS a lot of money.
Take a married couple with $100,000 in income – their bill comes to $797, according to the Tax Policy Center ACA penalty calculator.
The penalty for remaining uninsured rises to the larger of $325 or 2% of income in 2015.
https://money.cnn.com/2015/01/28/news/economy/obamacare-tax-penalty/
