ObamaCrapCare Will Be A Pain In The Butt For Most Taxpayers!

Obamacare subsidies will make for a confusing tax season for millions

Posted on January 5, 2015 by Sam Rolley

For Obamacare subscribers, tax season could be a real headache this year. That’s according to a study from the tax experts at H&R Block estimating that as many as 3.4 million Americans will be forced to repay subsidies from the healthcare overhaul.

According to H&R Block, as many as half of the 6.8 million Americans who received Obamacare subsidies last year will be getting smaller refunds than they expect as they file taxes.

About the same number could be eligible for more subsidies than they were previously given

The Wall Street Journal reports that tax filers confused by the faulty Obamacare calculations will be a boon for tax preparers:http://www.wsj.com/articles/affordable-care-act-creates-a-trickier-tax-season-1420157063

“The ACA is going to result in more confusion for existing clients and many taxpayers may well be very disappointed by getting less money and possibly even owing money,” said Charles McCabe, president of Peoples Income Tax and the Income Tax School, a Richmond, Va., provider of tax preparation and education. “The whole implementation of Obamacare will be frustrating for tax preparers.”

But the season could be a lucrative one for tax firms. Liberty Tax Service, a tax-preparation franchise, began calling hundreds of thousands of customers in November to invite them to a store to get help applying for an exemption to the insurance-coverage requirement. About half of the company’s 4,000 stores opened weeks ahead of their usual start date to provide health-law tax advice.

In other words, the Affordable Care Act is going to make filing taxes more expensive for many Americans this year.