So the Federal Subsidy you got for your Obamacare.......wait for it..........,counts as income: Thats because subsidies are actually tax credits and are based on annual income, but folks got their 2014 subsidy before knowing exactly what theyd make in 2014. So youll have to reconcile the two with the IRS during the upcoming tax filing season. Were not talking chump change. Those who applied through the federal exchange received an average monthly subsidy of $264, according to the most recent figures reported by the Obama administration. They only had to pay $82 a month, on average, for coverage, Roughly 85% of total enrollees received help with insurance premiums. The administration last month said 2014 enrollment was 6.7 million. Those who underestimated their earnings could owe thousands of dollars, though there is a $2,500 cap for those who remain eligible for subsidies. The threshold for eligibility is based on income - $45,900 for an individual and $94,200 for a family in 2014. finance.yahoo/news/obamacare-tax-surprise-looming-104300531.html
Posted on: Fri, 02 Jan 2015 23:30:39 +0000
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