Thursday, June 1, 2017

The IRS Posts Obamacare Tax Implications, Report of 2015 Tax Year

In 2015:
  • 5 million tax return filers received taxpayer support totaling $18 billion to buy their health plan. 
  • 3.3 million return filers erroneously received too much taxpayer support to buy their health plan and must pay (or have already paid) back $2.6 billion. 
  • 6.6 million filers took their spanking and paid a penalty for not buying government approved healthcare.  
    • That total payment (labeled a tax not a penalty as you recall) amounted to $3 billion; 
    • or an average of $457 per tax return.  
Source: IRS.