Another thing to keep in mind, however: This open enrollment period isnt the biggest test for Obamacare in the next 12 months. The biggest test will be what happens on or around April 15th. Thats the first time all the people who didnt buy insurance will get hit with the individual mandate penalty, and the ones who thought that it was a nominal $95 fee are in for a nasty shock . April 15th will also be the first time that people who got too much in subsidies are going to be asked to pay back some of that money. I do not have hard figures on this, but my basic experience in personal finance and tax reporting suggests that approximately zero percent of those affected will be expecting the havoc it will wreak on their tax refund. Brace for a wave of taxpayers angrily complaining to congressmen and their local newspapers. The size of this pressure -- and how the administration handles it -- will tell us a lot about the future of this program. As will Tax Day in 2016, when the penalties get bigger. To read more click the link:
Posted on: Wed, 19 Nov 2014 02:02:42 +0000
Trending Topics
Recently Viewed Topics
© 2015