IRS PPACA penalties

http://www.lifehealthpro.com/2015/01/27/irs-waives-penalties-for-late-payments-linked-to-p?eNL=54c821f7140ba0a5398b4679&utm_source=HCRW&utm_medium=eNL&utm_campaign=LifeHealthPro_eNLs&_LID=63272263

http://kaiserhealthnews.org/news/do-i-have-to-repay-premium-tax-credits-if-the-marketplace-miscalculated-them/

This is going to be a confusing and hellish tax season from some.

ppaca wrote:http://www.lifehealthpro.com/2015/01/27/irs-waives-penalties-for-late-payments-linked-to-p?eNL=54c821f7140ba0a5398b4679&utm_source=HCRW&utm_medium=eNL&utm_campaign=LifeHealthPro_eNLs&_LID=63272263

http://kaiserhealthnews.org/news/do-i-have-to-repay-premium-tax-credits-if-the-marketplace-miscalculated-them/

This is going to be a confusing and hellish tax season from some.

And by "confusing and hellish", you mean "will require tax payers to answer an additional 2 to 3 yes-or-no questions in TurboTax".

Do all these people use turbo tax, think not. Nope I mean the people who are going to have to pay back and the people who did not get their subsidy starting on Jan 1, 2014 but rather a different month. It's pretty easy to figure if you had the subsidy all 12 months, if you did not you will have to list your income for each month you had the subsidy and list your tax credit you received for that month. I bet you 90% of the people could not tell you what subsidy they are receiving monthly and the self employed could not tell you their income. You may be one of the few around here that could, but I can tell you may be the exception. Hell at the end of the year the self employed when asked, what is your income, oh I don't know I will have wait a month or so after the person who does my taxes tell me.

http://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/The-Premium-Tax-Credit