Jan, 2015 (Bloomberg) Obamacare is about to collide with the U.S. tax-filing season, adding frustration for millions of taxpayers trying to figure out how to comply and how much they will owe the government.
Both the individual mandate and the subsidies present complications for tax filing.
The subsidies affect substantially fewer people than the mandate—and could be trickier to navigate.
People who didn’t update their family status and income during 2014 will have particular difficulty. A bonus or a move to a higher-paying job could cause some to owe the government money that they never actually received—because it was sent straight to the insurance company.
The IRS budget is $10.9 billion this year, down 3 percent from last year and 12 percent below what the administration requested.