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Next Challenge for Obamacare: Tax Forms

Next Challenge for Obamacare: Tax Forms

If signing up for Obamacare wasn't bad enough, wait until consumers have to fill out their tax forms. 

The government has yet to release final instructions on how to fill out the new forms, but Houston CPA Randy Reimer already calls it daunting at best for many of the low to moderate-income people who signed up.

“There are a lot of folks that are getting the Obamacare insurance who traditionally had very easy returns to do that are all of sudden going to have some boxes to check out and things to handle they've never done before,” Reimer tells KTRH News.

That means proving which plan they bought, any subsidies they received, or even if they're exempt.  All this is voluntary for 2014 taxes, but required in 2015.

“If people that are as smart as CPAs are starting to have some questions and confusion about it, you can imagine what the population in general is going to struggle with,” says Texas State Rep. John Zerwas.

All this comes as reports surfaced the medical device tax under Obamacare has fallen short of its revenue target.  The IRS has already made the

“Once again we're going to see Obamacare trip up on all these complexities and so forth, after giving people the sense that it was just going to be all fine and everybody would have the chance to buy insurance,” says Zerwas.

 

 

 

 

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