KOMMONSENTSJANE – Affordable Care Act’s (OBAMACARE) unexpected side affect: IOU to the IRS. Fellowship of the Minds.

Rebloggted on kommonsentsjane/blogkommonsents.

For your information – if you have Obamacare.

kommonsentsjane

Fellowship of the Minds

Obama_laughing

By design, many Americans were “Grubered.”

From SF Gate: A$13,000 tax bill was the last thing Bill and Cathy Stapp expected when they signed up for Covered California health insurance in late 2013.

The Stapps estimated that their combined income would be less than $63,000 in 2014 — making them eligible under the Affordable Care Act to get financial assistance from the federal government taxpayers to help pay their health insurance premiums. They were approved by Covered California and began receiving subsidized health benefits in early 2014, the first year the health law, often called Obamacare, went into effect.

But in April 2015, the Alameda couple got an unwelcome surprise from their tax preparer: They owed the U.S. Treasury $13,568. It turned out that they’d earned about $80,000 in 2014, with the extra due to Social Security income they hadn’t counted. It was too much to…

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About kommonsentsjane

Enjoys sports and all kinds of music, especially dance music. Playing the keyboard and piano are favorites. Family and friends are very important.
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